Sri Lanka central bank considers revamping primary auctions

Oct 21, 2016 (LBO) – Sri Lanka’s Central Bank is considering revamping the Primary Auction system for government securities, sources said.

The proposed system would overhaul the auction bidding process and introduce non-competitive bidding so as to create a level playing field.

The move likely follows heavy profits made by one primary dealer from government securities. COPE is expected to release its report on controversial bond auctions held in coming days.