Which of the following procedures is NOT true for bidding for Treasury bonds under the tender system?
A) Only bids submitted electronically by registered bidders through AOFM tender system are accepted.
B) Minimum bid must be for $1 000 000 and multiples of $1 000 000 thereafter.
C) Bids are made in terms of yield to maturity up to three decimal places.
D) Bids are accepted in descending order; that is, the lowest price is allotted first.
Correct Answer:
Verified
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