tender issue

tender issue

an issue of TREASURY BILLS by the Bank of England in response to invited TENDERS from DISCOUNT HOUSES and overseas central banks. Each discount house tenders for a given quantity of bills, and their combined tender usually exceeds the quantity of bills on offer; the Bank of England then allots the bills to the highest bidders. This permits the Bank of England to borrow money on behalf of the government at a competitive interest rate. COMMERCIAL BANKS do not tender directly for Treasury bills but instead purchase their requirements in the DISCOUNT MARKET. Contrast TAP ISSUE.
References in periodicals archive ?
Tender Issue Date & Time (mm/dd/yyyy hh:mm:ss): 8/3/2016 7:15:04 PM
Tenders are invited for Spl Rep To Furniture Against Surveyed Off Furniture Under Ge 861 Ews.(Only Online Applications Will Be Accepted.Contractors Applied For Manual Form Of Tender Issue Should Apply Afresh As Their Applications With Dd Have Been Returned Back)