The non-competitive bids of securities are submitted through the ____________?
Correct answer: C. Federal Reserve banks
- A. federal savings bank
- B. state savings banks
- C. Federal Reserve banks
- D. state reserve banks
Explanation
In the US Treasury market, non-competitive bids are submitted through Federal Reserve Banks, which process Treasury auction orders for eligible institutions and participants. The state-bank options do not perform this federal auction role.
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