Noncompetitive bid

Definition:

In a Treasury auction, bidding for a specific amount of securities at the price, whatever it may turn out to be, equal to the average price of the accepted competitive bids.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Interfund transactions

Financial arrangements effected by payments made from one fund group (either Federal funds or trust funds) to another group.

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