The National Bank of the Republic of Macedonia brought a Decision today on increasing the Lombard credits from 19% to 23% and the CB bills’ interest rate with maturity of 28 days, from 15% to 20%, annually.

Skopje, 15 June 2001

Press release of the NBRM

The National Bank of the Republic of Macedonia brought a Decision today on increasing the Lombard credits from 19% to 23% and the CB bills’ interest rate with maturity of 28 days, from 15% to 20%, annually.

The National Bank of the Republic of Macedonia is selling short-term securities - Central Bank Bills. The Central Bank Bills are in non-tangible form and they are selling with a discount and maturity date as of:

·          3 days with 13% interest;

·          7 days with 14% interest;

·          14 days with 14% interest; and

·          28 days with 20% interest, annually.

Illustratively shown as:

The amount of Central Bank Bills the National Bank offers for sale is limited and is in accordance with the monetary policy objectives. In case of increased demand for Central Bank Bills, the National Bank of the Republic of Macedonia applies the proportional allocation principle.

The sale of the CB bills to interested persons is conducted through banks, which on their behalf and for the account of third parties took a part of the primary market of the National Bank of the Republic of Macedonia.

The minimal amount of Central Bank Bills which can be bought by banks with the National Bank of the Republic of Macedonia, equals Denar 1,000,000.00.

All interested parties for CB bills purchase can turn to commercial banks or the National Bank of the Republic of Macedonia on tel. 108-283 and 108-401 for more information.