Treasury Bills

Mdm Deputy Speaker, I beg to move, "That this Parliament, in accordance with Article 144(1)(a) of the Constitution of the Republic of Singapore and section 3(1) of the Local Treasury Bills Act (Chapter 167 of the 2002 Revised Edition), resolves that the Minister for Finance be authorised to borrow, by the issue of Treasury Bills in Singapore under that Act, a further sum not exceeding Forty-five Thousand Million Singapore Dollars (S$45,000,000,000), thereby in total a sum not exceeding One Hundred and Five Thousand Million Singapore Dollars (S$105,000,000,000)."

Madam, I have already explained the rationale behind the need to increase the borrowing limit under the Local Treasury Bills Act during the Motion to increase the borrowing limit under the Government Securities Act. So, for this Motion, I proposed to raise the ceiling for issuing Treasury Bills under the local Treasury Bills Act by S$45 billion to S$105 billion. The proposed limit of S$105 billion will apply to the outstanding amount of Treasury Bills and is expected to last for five years till 2025.

Question put, and agreed to.

Resolved,

The Question is, "That this Parliament, in accordance with Article 144(1)(a) of the Constitution of the Republic of Singapore and section 3(1) of the Local Treasury Bills Act (Chapter 167 of the 2002 Revised Edition), resolves that the Minister for Finance be authorised to borrow, by the issue of Treasury Bills in Singapore under that Act, a further sum not exceeding Forty-five Thousand Million Singapore Dollars (S$45,000,000,000), thereby in total a sum not exceeding One Hundred and Five Thousand Million Singapore Dollars (S$105,000,000,000)."