Market Notice: Elimination of One-Year Bahamas Registered Stock and Introduction of 364-Day Treasury Bills

Published: Tuesday January 21st, 2025

Market Notice

21st January, 2025

Elimination of One-Year Bahamas Registered Stock and

Introduction of 364-Day Treasury Bills

The Central Bank of The Bahamas, in its capacity as fiscal agent to the Government of The Bahamas, advises that effective March 2025, it will cease the issuance of one-year Bahamas Registered Stocks (BRS) and begin issuing 364-day Treasury Bills (T-Bills) on behalf of the Government. This action better aligns the Government’s domestic debt issuance structure with global best practices and helps to improve market pricing and liquidity at the short end of the yield curve.

No action is required of existing one-year BRS holders in response to this change. Current one-year BRS holders with maturities beyond the introduction of the 364-day T-Bills will receive interest and maturity payments as scheduled. However, new subscriptions in one-year securities going forward will be in the form of the 364-day T-Bill.

Interested individual and institutional investors may participate in T-Bill tenders in the usual manner, as outlined in regularly published Bahamas Government Treasury Bill Term Sheets.

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