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Terms and conditions for T-Bills


  • Raiffeisen Bank acts as an intermediary / custodian and maintains for and on behalf of the Customer,an account for making payments and corresponding receipts of operations with government securities.Raiffeisen also carries with it a government securities account in the Securities Registry administered byRaiffeisen Bank itself for transactions performed in connection with these securities.
  • Raiffeisen Bank will record all transactions in the relevant register regarding all transactions made inthe Customer's account and will keep a record of movements from the Customer's governmentsecurities account, as well as its balance sheet. of transactions performed by the Customer and ofprimary documents pertaining to transactions in the retail securities market.
  • Raiffeisen Bank debits the Customer's account with the amounts owed to it, for the purchase oftreasury bills according to the calculation based on the nominal value of the investment, the days tomaturity and the yield of the sale of treasury bills on the day of investment.
  • Raiffeisen Bank will perform operations on behalf of the Customer only to the extent of the existingamounts in the accounts of the latter, not engaging in any case with his personal funds in otheraccounts.
  • Raiffeisen Bank does not apply any commission in the sale of Treasury Bills in the retail market, therespective yield is applied to the Customer depending on the interest rates in the market, with whichthe bank sells the Treasury Bills where the Customer invests.
  • A digital certificate is generated to the Customer at the end of the investment transaction on the RONplatform. The physical certificate signed by the bank, for the same investment, is ready and madeavailable at the request of the Customer. The physical certificate can be withdrawn by the Customer atany time, in one of the branches of Raiffeisen Bank.
  • Raiffeisen Bank notifies the customer without delay of any commercial transaction for its order, evenwhen this is not requested by the customer.
  • Raiffeisen Bank may cancel and reject the instructions received from the Customer which do not meetthe conditions of content and form defined by the acts in force.


  •  Ownership and rights deriving from Government securities are transferred to the Customer at themoment of their registration in the account maintained by the Bank as a custodian for the payment andcollection of operations in the name and on behalf of the Customer. The right of ownership over thesecurities is transferable and hereditary.
  • The Customer understands and accepts the fact that government securities are issued indematerialized form and cannot be obtained in physical form.
  • To invest in treasury bills, the Customer must have in the accounts opened with Raiffeisen Bank theamount necessary to make the purchase of treasury bills and that meets the conditions for investment(maximum amount of 300,000 ALL, the smallest amount or equal to the amount issued by Raiffeisenbank for sale in the retail market, the amount is less than or equal to the available funds that theCustomer has in the account and the amount is a multiple of 10,000 ALL)
  • The Customer has the right to sell his Treasury Bills if it has at least one more day remaining maturity
  • The Customer is obliged to pay in full and on time to Raiffeisen Bank the amounts required for eachtransaction with government securities performed on the Raiffeisen ON digital platform in theCustomer's account.
  • For this purpose, the Customer authorizes Raiffeisen Bank to irrevocably debit his / her Raiffeisen Bankaccount for the amount invested in treasury bills. The Customer is aware of the terms and conditions ofthe investment and will adhere to them.
  • The Customer has the obligation to verify all confirmations, or any message received during the onlinepurchase of treasury bills on the Raiffeisen ON digital platform and application. Upon completion of thisprocess and the generation of the certificate, the data are considered accepted by the Customer.
  • If any of the parties does not execute or incorrectly executes the obligations undertaken, the otherparty may request the annulment of the action and the payment of the damages caused within the same value date and time 15:30.
  • The Customer must take reasonable steps to maintain the security of security elements and thesecrecy of passwords / device lock as well as to use the service in a secure manner. In particular, theCustomer should take all necessary preventive measures, including, but not necessarily limited to:
  • Do not disclose personal information such as ID or passport information, addresses or bank accountsto any person who does not prove his or her identity or any suspicious website.
  • Do not write or record the password without first covering it.
  • Do not leave security elements unattended


  • Each notification is considered completed at the time of communication and interaction on theRaiffeisen ON digital platform / application.


  • The Bank considers the protection of your privacy and personal data as a very important issue and iscommitted to implementing the legal framework in their protection and observance, as defined in Lawno. 9887 dated 10.03.2008 'On the Protection of Personal Data', as amended, as well as other bylaws intheir implementation, as well as the European Regulation on the Protection of Personal Data.
  •  Detailed information on the category of data being processed, purposes, processing criteria andprotection of personal data by the Bank, can be found on the Bank's website: “personal data” menu at the link


  • These Working Conditions are regulated by Albanian legislation. All transactions performed withtreasury bills will comply with the provisions of applicable legal acts related to transactions withGovernment securities. For any dispute that may arise between the client and the Bank, they agree toresolve it amicably and if they do not resolve it amicably, they can turn to the Tirana Judicial DistrictCourt as the competent body for the final resolution of the dispute. born.



Treasury bills are debt securities issued by the Government of the Republic of Albania, represented by the Ministry of Finance in the form of registration.

Treasury bills are short-term securities with a maturity of up to 1 year. Currently in Albania areissued Treasury Bills with a maturity of 3, 6 and 12 months. Maturity is the time differencebetween the investment date and the return-on-investment date.

Treasury bills are issued in the form of a register in the account, which means that they do nothave a physical form, but the investor is given a certificate of ownership, or a certificate of thetransaction he makes with them. The treasury bill ownership register for individuals is kept withthe Bank of Albania, or another bank licensed by the Financial Supervision Authority (FSA) forthis purpose. 

Calculation of interest earned on Treasury Bills 

Treasury bills are sold at a discount to their face value. The difference between the purchaseprice and the face value represents the interest earned on the Treasury Bills. The investor onthe date of purchase pays only the purchase price in accordance with the face value and thediscount rate (Yield).

Example: Face value: LEK 300,000.00 Yield: 1.50% Days to maturity: 364 PP = 300,000 / (1+ 1.50% / 365 * 364) = 295,578.47 Interest = NV - PP = 300,000.00 - 295,578.47 = 4,421.53 On the maturity date, paid par value or Treasury Bills can be reinvested.

Issuance of Treasury Bills

Treasury bills are issued for the first time in the primary market. The issuance of Treasury Bills is donethrough auction sale in the primary market organized by the Bank of Albania at regular intervals.Auctions for the issuance of treasury bills are conducted according to the relevant calendar. : Auctionsnormally take place on Tuesday, while the paper is issued two days later, on Thursday. The auction isannounced in advance by the Ministry of Finance and the Bank of Albania through the publication ofinformation on the respective websites.

Treasury Bill Trading (Retail Market) 

Treasury bills are freely tradable, they can be sold and bought before maturity at the counters ofcommercial banks. Treasury Bills are traded on the secondary market after their issuance. 

Trading can be done with entities licensed by the Financial Supervision Authority (FSA), which also includes commercial banks. 

Treasury Bill trading can be traded if they have at least up to 1 day before maturity. Interest earned on Treasury Bills is withdrawn at any time, starting from the investment date to the maturity date.

Raiffeisen Bank trades Treasury Bills with different maturities from its own trading portfolio, tradablethrough all counters and in its digital platform by providing information in each branch and on thedwebsite about the prices of tradable Treasury Bills.

a. No commission is applied for the purchase of Treasury Bills from the bank's tradable portfolio. In thiscase the client will pay the amount based on the quoted price for the remaining days until maturity.

b. No commission is applied for the sale of Treasury Bills before the maturity date at the bank counters.In this case the price is calculated for the customer based on the purchase yield from the bank and theremaining days until maturity.

Treasury Bill prices / quotations fluctuate depending on the liquidity situation in the market.

Interest Tax on Treasury Bills is subject to income tax. The tax is withheld on the maturity date.

Information For further information please contact the clientele service in all branches of Raiffeisen Bank as well as in electronic form at the address: