New Information Memoranda for Treasury Notes and Treasury Bonds

20 April 2009

New Information Memoranda for Treasury Notes and Treasury Bonds

New Information Memoranda for Treasury Notes and Treasury Bonds have been issued today by the Australian Office of Financial Management (AOFM).

The major changes to the Information Memoranda are as follows:

  • The Information Memorandum for Treasury Notes has been amended to reflect a change to the calculation of the settlement price of Treasury Notes per $100 face value. In calculating the settlement price past practice has been to extend the pricing to the ninth decimal place. In future the settlement price of Treasury Notes per $100 face value will not be rounded prior to calculating the settlement amount. This change aligns Treasury Notes with current market conventions for calculating settlement amounts for bank accepted bills and negotiable certificates of deposit.
  • In tenders for the issue of Treasury Bonds or Treasury Notes, Registered Bidders will now be able to enter bids that total an amount greater than the total amount offered. This will assist Registered Bidders in the placement of bids on behalf of other parties.

The changes have been made following consultations with market participants.

Last updated: 26 March 2014