TOTAL AMOUNT OF ORDERS FOR PRIMARY DISTRIBUTION AND REDEMPTION OF TREASURY SECURITIES GROWS BY 40.5 BILLION DRAMS IN 2007 ON 2006 AND MAKES 101 BILLION 972 MILLION DRAMS

Noyan Tapan
Feb 22, 2008

YEREVAN, FEBRUARY 22, NOYAN TAPAN. The RA state securities registration
and calculation system issued 2,044 orders of the total amount of 101
bln 972 mln drams (about 298.1 mln USD) for primary distribution and
redemption of state (treasury) securities in 2007, which is more by
40.5 bln drams than in 2006 (payments for distribution of securities
made up 50% of this growth).

According to the press service of the Central Bank of Armenia (CBA),
transfers of 52 bln 585 mln drams for state bonds purchased during
the primary distribution were made by banks, and transfers of 49 bln
387 mln drams for redemption of state securities were made by the
Treasury, including payments of 1 bln 779 mln drams made by "Treasury
Depository" system for state securities, including payments of 652
mln drams for securities distribution and 1 bln 127 mln drams for
securities redemption.

The above mentioned system issued 1,467 orders of 261 bln 826
mln drams for primary distribution and redemption of the CBA’s
own securities. During the primary distribution of the indicated
securities, commercial banks made transfers of 134 bln 953 mln drams
for purchase of the CBA’s own bonds and transfers of 126 bln 873 mln
drams for redemption of the CBA’s own securities.

The operations with securities carried out in the secondary market
by participants in the state securities registration and calculation
system grew 1,8fold in 2007 on 2006 and made 1 trillion 69 billion
drams by the nominal value, including sales of purchases of 878 bln
drams and free supply of 191 bln drams. Pledge-related operations
amounted to 25 bln drams by the nominal value. 498 bln drams was
paid for 3,631 purchase and sale operations done by the DVP system
allowing to make instant payments for bonds.