________, there is a regular calendar of offering where all winning bidders are awarded securities at the highest yield accepted by the government (i.e., the stop-out yield).

Question

Quizplus · Accepted Answer

In the regular calendar auction/minimum-price offering system, all winning bidders are awarded securities at the highest yield accepted by the government, which is known as the stop-out yield. This contrasts with the Dutch-style auction system, where all bidders who meet or exceed the final clearing price are awarded securities at that price. The ad hoc auction system and the tap system are not relevant to this scenario.

________, There Is a Regular Calendar of Offering Where All