Category: Money

There has been a positive response to Central Bank quote s call to expand the government securities market by issuing new licences.rn rnThe bank quote s Superintendent Public Debt, Dharma Dheerasinghe told Lanka Business Online that lquote a few parties have already submitted their applications. quotern rnrnMarket watchers speculated that the new comers include Peoples […]

The two-year bond will be linked to the six months London interbank offered rate or LIBOR.rn rnThe government last year said it was raising up to US$ 250 mn through the bond issues to help bridge the yawning budget deficit. However, only US $ 158.5 million two year bonds were issued.rn rnEarlier this year in […]

The Central Bank cut its key short-term discount rate by lowering the overnight reverse repurchase rate (reverse repo) by ten basis points to 13.75 percent this morning.The announcement is in line with the bank quote s new policy of making regular changes to its key discount rates, to make it more responsive to market developments, […]

The unsecured, subordinated redeemable debenture will carry a five-year tenure and will be quoted on the Colombo Stock Exchange. rnrnThe issue will be doubled by Rs. 300 mn in the event of an oversubscription, Seylan Bank quote s Ajantha Madurapperuma told Lanka Business Online. rnrnHe said the interest rate for the issue has not been […]

The Central Bank offered and accepted bids for Rs.6.565 bn despite the auction being oversubscribed with bids for Rs. 12.461 bn. rnrnBids on offer this week included re-issues of Rs. 5.565 bn in maturing bills and Rs.1.000 bn in fresh issues. rnrnThe weighted average yield for three month notes slipped three basis points to 12.83 […]

Construction work on the head office complex is expected to cost the bank around Rs. 4 bn. rnrnThe securatised paper carrying a ten-year tenure, will be privately placed with institutional investors, a senior HNB official said. rnrnSecuratisation is an asset backed debt instrument, where the future cash flow receivables of the assets are transferred to […]

Money brokers are expecting a benchmark repo interest rate cut towards end April, due to twin effects of the IMF disbursement and improved liquidity in the money market following the festive season.Some even speculate that the Central Bank may announce the rate cut immediately, in order to give a clear signal to the market ahead […]

Three-month notes dropped one basis point to 12.93 percent, six month bills slipped one basis point to 12.97 percent and one year treasuries lost four basis points to 13.74 percent. rnrnDealers say rates have held firm, despite a Rs. 7.8 bn liquidity crunch on seasonal demand. rnrnDealers expect the shortfall to ease after the New […]

ldblquote Both the Government and Central Bank have responded positively to our concerns about the negative effect of Debit Tax dblquote , Primary Dealers Association quote s President, Ajantha Madurapperuma told Lanka Business Online. rnrnldblquote We were told that changes are currently been drafted to exclude the repo market from Debit Tax dblquote , he […]

As part of its efforts to deepen the debt market, Ceylinco Shriram Securities Ltd opened its sixth regional office in Matara today. rn rnThe firm is targeting entrepreneurs as well as handicraftsmen based at the Hambantota export village to promote gilt-edge securities. rnrnldblquote It quote s a huge market, specially deep south, dblquote notes Hiran […]

In a letter to the Central Bank, the Primary Dealers Association says the killer tax of 0.1 percent is threatening money market and gilt-edge securities transactions, despite the budget unveiling numerous measures to boost the financial sector. rnrnThe Association quote s President, Ajantha Madurapperuma identified the killer tax on financial transactions as ldblquote an apparent […]

The reversal comes after the bank raised the reverse repo rate by 10 basis points on Thursday in line with the bank quote s new policy of making regular changes to its key discount rates, to make it more responsive to market developments. rnThe bank on Wednesday cut rates by 50 basis points, lowering the […]