International banks may become T-bills primary dealers

Primary dealers have special privileges in auctions of Treasury securities, including the right to buy them before other participants. In return they are obliged to participate in all tenders and purchase a set amount of bills and bonds within a given time, as well as be active on the secondary market to ensure liquidity. Primary dealers are chosen each year, with only banks operating in Poland eligible until now. However, this could change next year, with a possible change in selection criteria. "So far, these are only proposals. No decisions have been made, but it is true that they could be made in the matter of days," said Piotr Marczak, deputy director of the Ministry's Public Debt Department. Another change considered by the Ministry is the launch of a new electronic platform for trading in Treasury securities. (Parkiet, p. 7) T.J.