ECONOMY

Greece to auction 1 bln euros of T-bills on Oct. 9

Greece will auction 1.0 billion euros of six-month T-bills next Tuesday, the country’s debt agency PDMA said on Friday.

The settlement date will be Oct. 12. Only primary dealers will be allowed to participate and no commission will be paid.

Monthly T-bill sales are Greece’s sole remaining source of market funding. Greek banks buy the bulk of them to deposit them as collateral to draw liquidity from the European Central Bank.

[Reuters]