What is the price paid for the non-competitive bids

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1. Bank of Canada offers $10 billion auction of 91 day T bills. It receives the following bids:

$7 billion non-competitive and the following competitive bids

$1 billion at 99.30 or yield 2.8275%

$1 billion at 99.32 or yield 2.7461%

$1 billion at 99.34 or yield 2.6648%

$1 billion at 99.36 or yield 2.5836%

What bids are accepted? What is the price paid for each accepted bids? What is the price paid for the non-competitive bids?

Reference no: EM131862044

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