Government Securities Secondary Trading

  • The Bank sells and buys Government Securities on the secondary market. The market which exclude the initial auctions at Bank of Zambia. This is done for both individuals and corporate customers. 
  • Secondary transactions are either outright or on a REPO (repurchase agreement) basis.
  • Government Security secondary trading is priced off the current Treasury Bills or Government Bond yield rates.
  • Pricing will also be dependent on the volume being traded and in the case of REPO's the tenor of the transaction.
  • The tenor of investing in treasury bill and Government Bond REPO's range from 7 to 365 days and 7 days to 15 years respectively.
  • There is no statutory minimum trading threshold, however a minimum of K100 million makes economic sense at the current market yield rates.
  • Interest income is subject to Withholding Tax of 15%, 1% medical levy and 2% BoZ handling fee.
  • Secondary trading on Government Securities with the bank is free (no charges other than the above statutory costs).

 

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