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Central Bank Bills (Makam)

About Makam

Makam is a short-term security (up to 1 year) issued by the Bank of Israel.  It enables the Bank of Israel to inject or absorb liquidity.  These securities are issued to the general public, and can be traded on the Tel Aviv Stock Exchange.  They are issued each month, such that at any given time, there are 12 Makam series being traded with a term of up to 1 year.  Makam yields help in calculating the public’s inflation expectations, and thereby in managing monetary policy for terms of up to one year.

Announcement of the April 4th, 2023 MAKAM auction

Central Bank Bills (Makam)

Auction Announcements for Treasury Bills (Makam)
Series number Tender date Clearing date Offered quantity of which: TMM Maximum yield (%) (1)
The yield will be set before each tender, but will not be published.
Redemption date Number of days to redemption
1214 05/12/2023 06/12/2023 14,000.000 3 --- 04/12/2024 364
314 05/12/2023 06/12/2023 20,000.000 3 --- 06/03/2024 91

Auction Results for Treasury Bills (Makam)

Series number Tender date Closing yield (%) Average yield (%) Average price Requested quantity Quantity sold in the tender Allocation percentage (%) Redemption date Number of days to redemption
1114 07/11/2023 4.25 4.18 95.9985 36,969 14,000 14.08 06/11/2024 364
214 07/11/2023 4.57 4.52 98.9039 47,175 18,000 24.71 07/02/2024 91
This page was last updated on: 20/09/2023