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Issuing Procedure
Treasury bills are sold using the auction procedure. The Treasury entertains both competitive and non-competitive tenders for T-Bills. Government securities firms, individuals, financial and non-financial companies usually participate in the bidding. In competitive bids, the quantity of desired T-bills are specified with lowest interest rates which the buyer is willing to accept. (However, treasury rules prohibit any single bidder from obtaining more than 35 percent of any new issue.) The competitive tenders are typically submitted by large investors, banks and securities dealers. The non-competitive bids are submitted by small investors and their bidding amount is limited to $1 million or less. A non-competitive bidder accepts the weighted average interest rate of the competitive bids and these bids state only the quantity of bills desired.
in UK, all new issues are scheduled and are made through auctions with the details being announced in advance. Private investors may bid for gilts at auctions on a non-competitive basis and receive the gilt at the weighted average of the price paid by successful competitive bidders. The minimum for this type of application is 1000 nominal of the gilt and the maximum is 500,000. Investors making non-competitive bids at the auction are asked to enclose a cheque for a specified amount per 100 nominal bid for. If the eventual price is less, the difference is refunded - if greater, a further payment will be asked for.
Push Strategy This is referred for marketing approach in which a manufacturer uses its sales force and trade promotions to sell a product actively to retailers and wholesa
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Explain the structure of financial systems In direct finance borrower-spenders borrow funds straight from lenders in the financial markets by selling them securities. In indire
Normally, the cash flows from mortgage backed and assets-backed securities are obtained on monthly basis. Therefore, the yield calculated would be on a monthly ba
Wing Yin Tsui, CEO of Lian Huang & Wong Bin Dean Hwang Manufacturing Limited is considering a four year project. The project requires an initial investment of $10,000,000 to buy ne
The issuers of ALBS are the financial subsidiaries of automobile manufacturers, commercial banks and other independent finance companies and small financial insti
1. Of course a swaption will be needed. The major reasons being that Bond A is callable after 3 years and matures in 4 years whereas Bond B matures in 5 years. It is understandable
Marshall-Edgeworth Method Marshall-Edgeworth method uses both the current year as well as the base year prices and quantities. Marshall-Edgeworth Index can be computed using th
Issuing Procedure Treasury bills are sold using the auction procedure. The Treasury entertains both competitive and non-competitive tenders for T-Bills. Government securities f
It is a feature that allows the issuer to redeem its bonds before maturity. Almost all convertible bonds come with this feature. Due to this feature, bonds carry
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