單一價格∕利率標
單一價格∕利率標
| 中文名詞 | 單一價格∕利率標 |
|---|---|
| 英文名詞 | Single Price/Yield Auction |
| 中文解釋 | 單一價格/利率標之競標方式與複數價格/利率標相同，亦係按投標價格（利率）由高而低（由低而高）依次得標，惟所有得標者應繳價款均依最低得標價格（最高得標利率）計算。國庫券自90年10月起，中央登錄公債自93年7月起，由複數利率標改採單一利率標。公債票面利率以0.125%為級距，並以開標後得標最高利率之相等或最接近且較低之數訂定。[4] |
| 英文解釋 | The competitive bidding method used for single price/yield auctions is the same as that for multiple price/yield auction. The bids are accepted in descending (ascending) order of bidding prices (yields). However, all successful bidders are required to settle their awarded securities at the lowest accepted price (the highest accepted yield) at the auction. The single yield auction method has been applied to the issuance of treasury bills since October 2001 and to the issuance of central government bonds since July 2004. The coupon rate of central government bonds is set at 0.125% increment, closest to but not above the highest accepted yield of successful competitive bids. [4] |