The Federal Reserve announces an offering of Treasury bills with a face value of $60 billion. Noncompetitive

Question:

The Federal Reserve announces an offering of Treasury bills with a of $60 billion. Noncompetitive bids are made for $8 billion, along with the following competitive bids: Bidder Price Bid Quantity Bid $9,400 $15 billion B 9,405 14 billion 9,410 11 billion 9,415 D 8 billion 10 billion 9,425

Bidder Price Bid Quantity Bid $9,400 $15 billion B 9,405 14 billion 9,410 11 billion 9,415 D 8 billion 10 billion 9,425

In a single-price auction, which bids are accepted and what prices are paid by each bidder? How much money is raised by the entire offering? Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...