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In a treasury auction of 21 billion par value 91-day

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In a Treasury auction of $2.1 billion par value 91-day T-bills, the following bids were submitted. If only these competitive bids are received, who will receive T-Bill, in what quantity and at what price? If the Treasury also received $800m in non-competitive bids then who will receive T-bills, in what quantity and at what price?

Bidder

Bid Amount

Price

1

$500mn

$0.9940

2

$750mn

$0.9901

3

$1.5bn

$0.9925

4

$1bn

$0.9936

5

$600m

$0.9939

Reference no: EM13568203

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