Short-term Instruments

The NTMA’s short-term debt programme, comprising Treasury Bills, Commercial Paper and Exchequer Notes, provides liquidity and flexibility in the timing of long-term funding operations.

Please contact the cashdesk team (email: cashdesk@ntma.ie, tel: +353 1 238 4725 and +353 1 238 4748 ) with queries concerning short-term paper.

Treasury Bills

Irish Treasury Bills are zero coupon instruments which normally have maturities at issue of between one and twelve months. The main features of Irish Treasury Bills are set out in the NTMA’s Irish Treasury Bills Information Memorandum (249 KB, PDF format).

  • This information is also available in tabular format

                                                                            

    Auction date
    Maturity date
    ISIN
    Competitive
    Amount
    Sold (€m)
    Bid/Cover Ratio
    Issue yield (%)
    Non-competitive
    Amount
    Sold (€m)
    Total
    Amount
    Sold (€m)
    20/06/2019
    Jun-20
    IE00BH3SQC39
    500
    3.67
    -0.47%
    Nil
    500
    14/03/2019
    Mar-20
    IE00BH3SQ903
    500
    3.46
    -0.41%
    Nil
    500
    13/12/2018Dec-19IE00BFZRQ4655002.37-0.42%Nil500
    20/09/2018Sep-19IE00BFZRQ3585002.51-0.45%Nil500
     

Treasury Bills are issued primarily through an auction system. Participation in auctions is limited to recognised primary dealers in Irish Government Bonds and eligible counterparties.

  • Exchequer Notes

    The Exchequer Note programme provides short-term funding directly from mainly domestic wholesale institutional clients. The maturities are available up to a term of one year.