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The Sri Lanka-based Commercial Bank of Ceylon Limited (CBCL) and Trust Bank Limited (TBL) recently transacted five secondary TBills worth Tk 200 million in a single largest volume of such transaction ever recorded in this market.
Banking sources said in the transaction the TBL sold its T-Bills of two-year tenure as part of its effective fund management since the current market interest rate of taka increased beyond the T-bills' required yield.
The CBCL purchased the T-Bills as an alternative mode of investment at a rate higher than existing fixed income products but lower than short term taka interest rate, they added.
The concerned dealers perceived this deal as a win-win situation for both the banks and hoped other banks will also come up and continue participating in secondary T-Bills transactions to develop the market.
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