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DSTA increases funding requirements: Bills issuance to increase

EUROZONE ISSUANCE

The DSTA's estimated funding needs for 2024 have been increased by E11.2bln. However it is leaving its DSL target unchanged "around" E40bln with the increase in funding requirements coming from the bills.

  • The Netherlands will hold 6 DSL issuance operations in the quarter.
    • There will be a DDA to tap the 2.00% Jan-54 DSL for E4-5bln on 16 April. Initial spread guidance over the 2.50% Aug-54 Bund will be announced on Monday 15 April.
    • There will be a reopening of the 2.50% Jul-34 DSL for E2.0-2.5bln on 30 April via conventional auction.
    • There wil be taps via conventional auction of existing DSLs on 14 May, 28 May, 11 June and 25 June.
  • There will be 6 DTC auctions on 2 April, 15 April, 6May, 21 May, 3 June and 17 June.

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