{
  "id": 8998170,
  "title": "Government’s T-bill offer undersubscribed by GHC165m after 12 weeks of oversubscription",
  "url": "https://urgent.news/2026/09/21/governments-t-bill-offer-undersubscribed-by-ghc165m-after-12-weeks-of",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T19:54:29.000Z",
  "source": {
    "name": "3News",
    "slug": "3news",
    "url": "https://3news.com/news/governments-t-bill-target-undersubscribed-by-ghc165m-after-12-weeks-of-oversubscription"
  },
  "original_language": "en",
  "account": "Government's most recent Treasury bill auction experienced an undersubscription for the first time following 12 weeks of oversubscription. On Friday, September 18, 2026, investors submitted GHC3.956 billion in response to a target of GHC4.121 billion. This auction encompassed standard 91-day, 182-day, and 364-day Treasury bills. The subscription rate amounted to approximately 96 percent, resulting in an undersubscription rate of about 4 percent, or GHC165 million below the target.\n\nThe undersubscription occurred just before the Bank of Ghana's policy rate decision, set for Thursday, September 24, 2026. Investors offered GHC3.956 billion, but the government only accepted GHC2.212 billion. The 91-day bill received the highest demand, with GHC2.289 billion in bids and the government accepting GHC1.876 billion at a yield of 4.69 percent. For the 182-day bill, GHC452.79 million were offered, and the government accepted GHC224.96 million at a declining yield of 6.48 percent. The 364-day bill saw GHC1.214 billion in bids, but the government accepted only GHC110.52 million, leading to a yield decline to 10.98 percent.\n\nThe latest auction takes place amid ongoing reductions in yields on longer-dated Treasury bills, reflecting shifts in the domestic money market conditions.",
  "summary": "The exercise on Friday, September 18, 2026, saw investors offering GHC3.956 billion against a target of GHC4.121 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}