Issuance Program
Updated 1 July 2009
It should be noted that the issuance program is indicative only and the AOFM reserves the right to amend details for any reason.
Treasury Bonds
Treasury Bond issuance in 2009-10 (that is 1 July 2009 to 30 June 2010) is expected to be around $60 billion.
- The face value amount on Treasury Bonds on issue at end-June 2010 is projected to be around $133 billion.
Up to 80 Treasury Bond tenders are expected to be held in 2009-10, with the face value amount offered at each tender in the range $500 million to $1 billion. Tenders will be held on Wednesdays and Fridays, with details of the bond lines and amounts to be offered in a particular week announced at noon on the Friday of the preceding week.
It is planned to issue a new Treasury Bond line maturing in 2022 in the second half of the financial year. Issuance of this bond line will support the operation of the ten-year Treasury Bond futures contracts.
Treasury Notes
During 2009-10 it is planned to conduct a tender for the issue Treasury Notes most weeks. Treasury Note tenders will be held on Thursdays, with details of the tenors and amounts to be offered announced the previous day at 4.00 pm.
The volume of Treasury Notes to be on issue at end-June 2010 is expected to be similar to that on issue at end-June 2009 (around $17 billion). Treasury Notes will therefore make no major contribution to overall funding for the financial year as a whole. However, the volume of Treasury Notes on issue will vary over the course of the year, depending on the flows of Australian Government receipts and expenditures. It is currently estimated that the volume of Treasury Notes on issue could peak at between $20 billion to $25 billion during 2009-10.
It is planned to keep at least $10 billion of Treasury Notes on issue at all times so as to maintain a liquid market.
Treasury Indexed Bonds
Issuance of Treasury Indexed Bonds ceased in 2003. Consideration is being given to resuming issuance of Treasury Indexed Bonds in 2009-10.