Finance Ministry modifies how interest is calculated on three year bonds

The Finance Ministry is to change the method of calculating interest on three-year treasury bonds as of the next issue in September. Currently, the profitability of a 13-month treasury bill is multiplied by an appropriate index and used as a base to determine interest. The new system would scrap the additional multiplication, thus making it slightly less profitable for investors to buy bonds. Finance Ministry senior official Arkadiusz Kaminski says bonds will still remain the most profitable debt instruments available on the Polish market. The new bonds will be sold for zl. 99.80 each and exclusively to those investors that participated in the previous issue. (Rzeczpospolita, page B1) S.M.