In a Treasury auction of $2.5 billion par value 91-day T-bills, the following bids were submitted:

Bidder	Bid Amount	Price per $100
1	$500 million	$99.40
2	$750 million	$99.01
3	$1.5 billion	$99.25
4	$1 billion	$99.36
5	$600 million	$99.39

If the Treasury also received $750 million in non-competitive bids, who will receive T-bills, in what quantity, and at what price?

Answer rating: 100% (QA)

A non competitive bidder receive 750 million and bidder 1 receiv... View the full answer