Central Bank Bills (Makam)

About Makam

Makam is a short-term security (up to 1 year) issued by the Bank of Israel.  It enables the Bank of Israel to inject or absorb liquidity.  These securities are issued to the general public, and can be traded on the Tel Aviv Stock Exchange.  They are issued each month, such that at any given time, there are 12 Makam series being traded with a term of up to 1 year.  Makam yields help in calculating the public’s inflation expectations, and thereby in managing monetary policy for terms of up to one year.

 

Central Bank Bills (Makam)

Auction Announcements for Treasury Bills (Makam)
Series number Tender date Clearing date Offered quantity of which: TMM Maximum yield (%) (1)
The yield will be set before each tender, but will not be published.
Redemption date Number of days to redemption
1016 30/09/2025 03/10/2025 18,000.000 3 --- 07/10/2026 369
116 30/09/2025 03/10/2025 16,000.000 3 --- 07/01/2026 96

Auction Results for Treasury Bills (Makam)

Series number Tender date Closing yield (%) Average yield (%) Average price Requested quantity Quantity sold in the tender Allocation percentage (%) Redemption date Number of days to redemption
916 02/09/2025 4.21 4.20 95.9801 44,684 18,000 95.08 02/09/2026 364
1215 02/09/2025 4.32 4.29 98.9582 33,018 16,000 63.72 03/12/2025 91
This page was last updated on: 10/08/2025