Business & Finance
Fannie Mae to sell $2bn bills on Wednesday
NEW YORK : Fannie Mae, the largest US home funding company, said on Friday it plans to sell $2 billion bills on Wednes
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The auction will include $1 billion of three-month benchmark bills due Jan. 11, 2012, and $1 billion of six-month bills due April 11, 2012.
In such uniform price auctions, successful bidders pay only the price of the lowest accepted bid rather than the actual price as in a conventional multiple-price auction.
Copyright Reuters, 2011