Solution-How much money was raised for the federal

How much money was raised for the federal government

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Reference no: EM13909852

The Bank of Bermuda recently issues $1.3 billion of 98-day treasury bills on behalf of the federal government. The average bid received for the auction implied a yield of 3.114 percent.

a. How much money was raised for the federal government?

b. The high bid received implied a yield of 2.919 percent. If this were the average bid, how much more money would the Bank of Bermuda have raised?

c. The low big received implied a yield of 3.254 percent. If this were the average bid, how much less money would the Bank of Bermuda have raised?

d. Based on the above analysis, what is the direct impact on the federal government when the Bank of Bermuda changes the overnight rate?

Reference no: EM13909852

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How much money was raised for the federal government

Reference no: EM13909852

Reference no: EM13909852

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