Ask Question
BusinessBusiness
21 April, 03:35

A customer places a competitive bid through a primary dealer for $10,000,000 of 91-day treasury bills at the weekly auction. The customer's bid wins. The settlement of the transaction will occur on the:

+3
Answers (1)
  1. 21 April, 07:10
    0
    Thursday following the auction date

    Explanation:

    Treasury bills are instruments used by government to control liquidity in the economy by mopping up excess cash. They are secure government investments that are interest bearing.

    T-bills are usually announced on Thursday, actioned on Tuesdays, and issued on the Thursday after auction.

    So if the customer places a bid of $10,000,000 for the T-bills on auction day on Tuesday, the settlement of the transaction will occur on the Thursday following the auction date.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A customer places a competitive bid through a primary dealer for $10,000,000 of 91-day treasury bills at the weekly auction. The customer's ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Previously, management calculated the number of kanban cards allowed by using a value of 1.3 for X. Assuming nothing else (e. g., usage rates, container capacities, etc.
Answers (1)
2. Swinnerton Clothing Company's balance sheet showed total current assets of $900, all of which were required in operations.
Answers (1)
If both the real interest rate and the nominal interest rate are 3 percent, then the
Answers (1)
Consider a firm with an EBIT of $500,000. The firm finances its assets with $2,000,000 debt (costing 6 percent) and 50,000 shares of stock selling at $20.00 per share.
Answers (1)
Major Manufacturing Company has direct materials used of $50,000, beginning raw materials inventory of $10,000 and ending raw materials inventory of $8,000. Compute the raw materials inventory turnover.
Answers (1)
New Questions in Business
The Nolan Corporation finds it is necessary to determine its marginal cost of capital. Nolan's current capital structure calls for 30 percent debt, 20 percent preferred stock, and 50 percent common equity.
Answers (1)
Gaston owns equipment that cost $17,000 with accumulated depreciation of $3,400. Gaston sells the equipment for $12,200.
Answers (1)
If the supply of loanable funds exceeds the demand then borrowers will bid up the interst rate. True / False.
Answers (1)
The scientific method begins with A. the development of a formal hypothesis. B. the gathering of information. C. the identification of a problem for investigation. D. methodical observation of a phenomenon of interest.
Answers (1)
Charles loves watching downton abbey on his local public tv station, but he never sends any money to support the station during its fundraising drives. economists would call charles afree rider.
Answers (1)
Home » Business » A customer places a competitive bid through a primary dealer for $10,000,000 of 91-day treasury bills at the weekly auction. The customer's bid wins. The settlement of the transaction will occur on the:
Sign Up Forgot Password?