| 单词 | tender issue |
| 释义 | tender issuetender issuean 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. |
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