Auction Format. 8.1 The USD funds will be offered via a multiple-price Auction, with a minimum bid rate as published on the Authority’s website8. USD Facility (Bid Template) Date of Bid - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX 8.2 Each Eligible Counterparty can only submit one (1) bid for each Auction. The bid submission shall follow the following template: Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 84 100 120.05 8.3 All bids submitted by the Eligible Counterparties must indicate the tenor, bid amount and bid rate. The bid rate must be in the form of basis points, and stated to the nearest 0.01 basis point. Only bid rates which are at or above the minimum bid rate will be considered for the Auction. 8.4 The minimum size of a bid shall be at least USD 10 million, and the bid shall be rounded to the nearest USD 1 million. 7 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8.5 If successful, the interest payable by the successful Eligible Counterparty shall be based on the bid rate which it had submitted and which was accepted9 by the Authority (“Accepted Bid Rate”). 8.6 If the total bid amount received from the Eligible Counterparties is equal to or less than the Auction size, each of the successful Eligible Counterparty will be allotted its bid amount in full. 8.7 If the total bid amount received from the Eligible Counterparties is more than the Auction size (i.e., the Auction is oversubscribed), the USD funds will be alloted based on the competitiveness of the bids, with each bid capped at 20% of the Auction size. At the Auction cut-off bid rate, the USD funds will be alloted using the “Quantity Ceiling” method. This means that the successful Eligible Counterparties with bids at the lowest successful bid rate will be allotted increments of US$1 million up to their bid amount (subject to the 20% cap), or until all the USD funds have been allotted, whichever comes first. If there is insufficient amount of USD funds to allot the minimum increment of US$1 million to each of the successful Eligible Counterparties, the USD funds will be allotted randomly amongst the successful Eligible Counterparties, in blocks of US$1 million, until the USD funds have been fully allotted. If there are USD funds left and one or more bid(s) was not fully allocated due to the capping of the bid size, the remaining USD funds will be allotted in the next round of allotment which shall be solely based on the competitiveness of the bids.10 8.8 The Authority reserves the right to amend the format of the Auction as set out in this Clause 8 and allocation methodologies without prior notice. 8.9 Upon completion of the Auction, the Authority will inform all the successful Eligible Counterparties of the amount of USD allotted to them (i.e. the USD Principal) respectively via telephone or any other communication channel(s) as the Authority may decide.
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Samples: Terms and Conditions
Auction Format. 8.1 6.1 The USD funds will be offered via a multiple-price Auctionauction, with a minimum mininum bid rate as published on the Authority’s website8website.
6.2 Applicants can only submit one bid for each auction. The bid submission shall follow the following template: USD Facility (Bid Template) Date of Bid - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd Name of Trader - XXXXXX Telephone No6 The final auction size will be announced at least one business day before the auction date. of Trader - XXXX XXXX
8.2 Each Eligible Counterparty can only submit one (1) bid for each Auction. The bid submission shall follow the following template: Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 84 100 120.05120.05 Bank Code - XXXX Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX
8.3 All bids submitted by the Eligible Counterparties 6.3 Applicants must indicate the tenor, bid amount and bid raterate in its submission. The bid rate must be in the form of basis points, and stated to the nearest 0.01 basis point. Only bid rates which are at or above the minimum bid rate will be considered for the Auctionauction.
8.4 The minimum size of a 6.4 Each bid shall be at least subjected to a minimum bid size of USD 10 million, and the bid shall be rounded to the nearest USD 1 million. 7 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility.
8.5 If successful, 6.5 Successful Applicants must pay the interest payable by the successful Eligible Counterparty shall be based on the amount according to its submited bid rate which it had submitted and which that was accepted9 by the Authority accepted7 (“Accepted Bid Rate”).
8.6 . If the total bid amount received from is below the Eligible Counterparties is equal to or less than the Auction auction size, each of the all successful Eligible Counterparty Applicants will be allotted its bid amount in fullfully allotted.
8.7 6.6 If the total bid amount received from the Eligible Counterparties auction is more than the Auction size (i.e.oversubscribed, the Auction is oversubscribed), the USD funds will be alloted distributed based on the competitiveness of the bids, with each bid capped at 20% of the Auction auction size. At the Auction auction cut-off bid rate, the USD funds will be alloted allocated using the “Quantity Ceiling” Ceiling method. This means that the successful Eligible Counterparties Applicants with bids at the lowest successful cut-off bid rate will be allotted increments of US$1 million up to their bid amount (subject to the 20% cap), or until all the USD funds have been allotted, whichever comes first. If there is insufficient amount of USD funds for such Applicants to allot receive the minimum increment of US$1 million to each of the successful Eligible Counterpartieseach, the USD funds will be allotted randomly amongst distributed randomly.
6.7 If the auction is undersubscribed with at least one successful Eligible Counterparties, in blocks of US$1 million, until the USD funds have been fully allotted. If there are USD funds left and one or more bid(s) was not fully allocated due to the capping Applicant’s bid capped at 20% of the bid auction size, the remaining USD funds that were not allotted will be allotted in the next round of allotment which shall be allocated solely based on the competitiveness of the bids.10bids of such Applicants.
8.8 6.8 The Authority reserves the right to amend the format of the Auction as set out in this Clause 8 auction and allocation methodologies without prior notice.
8.9 6.9 Upon completion of the Auctionauction, the Authority MAS will inform all the successful Eligible Counterparties Applicants of the amount of USD allotted to them (i.e. the USD Principal) respectively via telephone or any other communication channel(s) as the Authority may decide.
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Samples: Terms and Conditions
Auction Format. 8.1 6.1 The USD funds will be offered via a multiple-price Auctionauction, with a minimum mininum bid rate as published on the Authority’s website8website.
6.2 Applicants can only submit one bid for each auction. The bid submission shall follow the following template: USD Facility (Bid Template) Date of Bid - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd Name of Trader - XXXXXX Telephone No6 The final auction size will be announced at least one business day before the auction date. of Trader - XXXX XXXX
8.2 Each Eligible Counterparty can only submit one (1) bid for each Auction. The bid submission shall follow the following template: Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 84 100 120.05120.05 Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX
8.3 All bids submitted by the Eligible Counterparties 6.3 Applicants must indicate the tenor, bid amount and bid raterate in its submission. The bid rate must be in the form of basis points, and stated to the nearest 0.01 basis point. Only bid rates which are at or above the minimum bid rate will be considered for the Auctionauction.
8.4 The minimum size of a 6.4 Each bid shall be at least subjected to a minimum bid size of USD 10 million, and the bid shall be rounded to the nearest USD 1 million. 7 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility.
8.5 If successful, 6.5 Successful Applicants must pay the interest payable by the successful Eligible Counterparty shall be based on the amount according to its submited bid rate which it had submitted and which that was accepted9 by the Authority accepted7 (“Accepted Bid Rate”).
8.6 . If the total bid amount received from is below the Eligible Counterparties is equal to or less than the Auction auction size, each of the all successful Eligible Counterparty Applicants will be allotted its bid amount in fullfully allotted.
8.7 6.6 If the total bid amount received from the Eligible Counterparties auction is more than the Auction size (i.e.oversubscribed, the Auction is oversubscribed), the USD funds will be alloted distributed based on the competitiveness of the bids, with each bid capped at 20% of the Auction auction size. At the Auction auction cut-off bid rate, the USD funds will be alloted allocated using the “Quantity Ceiling” Ceiling method. This means that the successful Eligible Counterparties Applicants with bids at the lowest successful cut-off bid rate will be allotted increments of US$1 million up to their bid amount (subject to the 20% cap), or until all the USD funds have been allotted, whichever comes first. If there is insufficient amount of USD funds for such Applicants to allot receive the minimum increment of US$1 million to each of the successful Eligible Counterpartieseach, the USD funds will be allotted randomly amongst distributed randomly.
6.7 If the auction is undersubscribed with at least one successful Eligible Counterparties, in blocks of US$1 million, until the USD funds have been fully allotted. If there are USD funds left and one or more bid(s) was not fully allocated due to the capping Applicant’s bid capped at 20% of the bid auction size, the remaining USD funds that were not allotted will be allotted in the next round of allotment which shall be allocated solely based on the competitiveness of the bids.10bids of such Applicants.
8.8 6.8 The Authority reserves the right to amend the format of the Auction as set out in this Clause 8 auction and allocation methodologies without prior notice.
8.9 6.9 Upon completion of the Auctionauction, the Authority MAS will inform all the successful Eligible Counterparties Applicants of the amount of USD allotted to them (i.e. the USD Principal) respectively via telephone or any other communication channel(s) as the Authority may decide.
Appears in 1 contract
Samples: Terms and Conditions
Auction Format. 8.1 The USD funds will be offered via a multiple-price Auction, with a minimum bid rate as published on the Authority’s website8. USD Facility (Bid Template) Date of Bid - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX
8.2 Each Eligible Counterparty can only submit one (1) bid for each Auction. The bid submission shall follow the following template: Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 84 100 120.05
8.3 All bids submitted by the Eligible Counterparties must indicate the tenor, bid amount and bid rate. The bid rate must be in the form of basis points, and stated to the nearest 0.01 basis point. Only bid rates which are at or above the minimum bid rate will be considered for the Auction.. 7 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility
8.4 The minimum size of a bid shall be at least USD 10 million, and the bid shall be rounded to the nearest USD 1 million. 7 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility.
8.5 If successful, the interest payable by the successful Eligible Counterparty shall be based on the bid rate which it had submitted and which was accepted9 by the Authority (“Accepted Bid Rate”).
8.6 If the total bid amount received from the Eligible Counterparties is equal to or less than the Auction size, each of the successful Eligible Counterparty will be allotted its bid amount in full.
8.7 If the total bid amount received from the Eligible Counterparties is more than the Auction size (i.e., the Auction is oversubscribed), the USD funds will be alloted based on the competitiveness of the bids, with each bid capped at 20% of the Auction size. At the Auction cut-off bid rate, the USD funds will be alloted using the “Quantity Ceiling” method. This means that the successful Eligible Counterparties with bids at the lowest successful bid rate will be allotted increments of US$1 million up to their bid amount (subject to the 20% cap), or until all the USD funds have been allotted, whichever comes first. If there is insufficient amount of USD funds to allot the minimum increment of US$1 million to each of the successful Eligible Counterparties, the USD funds will be allotted randomly amongst the successful Eligible Counterparties, in blocks of US$1 million, until the USD funds have been fully allotted. If there are USD funds left and one or more bid(s) was not fully allocated due to the capping of the bid size, the remaining USD funds will be allotted in the next round of allotment which shall be solely based on the competitiveness of the bids.10
8.8 The Authority reserves the right to amend the format of the Auction as set out in this Clause 8 and allocation methodologies without prior notice.
8.9 Upon completion of the Auction, the Authority will inform all the successful Eligible Counterparties of the amount of USD allotted to them (i.e. the USD 9 Please refer to Appendix A for the methodology of interest amount calculation. 10 To illustrate, assuming the Auction size is USD 35 million and there are 10 successful Eligible Counterparties, each submitted a bid for USD 5 million at the same bid rate. In this case, the Authority will try to allot the USD funds amongst the 10 successful Eligible Counterparties as evenly as reasonably possible, subject to the minimum block size of USD 1 million. After the first round of allotment, each successful Eligible Counterparty will receive USD 3 million. For the remaining USD 5 million, the Authority will randomly select a successful Eligible Counterparty out of the 10 successful Eligible Counterparties, and allot an additional USD 1 million. For the remaining USD 4 million, the Authorithy will again randomly select another successful Eligible Counterparty out of the remaining 9 successful Eligible Counterparties, and allot an additional USD 1 million. The process repeats until there are no more USD funds left. At the end of the allotment exercise, 5 successful Eligible Counterparties would have received USD 4 million, and 5 successful Eligible Counterparties would have received USD 3 million. Principal) respectively via telephone or any other communication channel(s) as the Authority may decide.
8.10 An Eligible Counterparty which has adopted triparty settlement via CBL and which nevertheless intends to use SGD cash as collateral, shall inform the Authority of its intent to use SGD cash as collateral when it is notified of the allotment.
8.11 Each successful Eligible Counterparty which adopts (a) bilateral settlement with the Authority or (b) triparty settlement via CBL and which nevertheless intends to use SGD cash as collateral 11 , shall send the information of its Eligible Collateral to the Authority via Refinitiv FXT as set out in the following template: USD Facility (Collateral Information) Date - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX Bank Code – XXXX Instrument Tenor (days) Amount (USDm) Issue/Currency/ISIN Code12 Xxx.Xxxx 7 50 SGD Repo 84 100 NZ10100F … … … …
8.12 Eligible Counterparties shall refer to (a) Appendix A of the Agreement for the bilateral settlement details for Category A1 collateral, (b) Appendix B of the Agreement for the bilateral settlement details for Category A2 and A3 collateral, and (c) Appendix C of the Agreement for the settlement of Specified Collateral via Appointed Triparty Agent(s).
Appears in 1 contract
Samples: Terms and Conditions
Auction Format. 8.1 6.1 The USD funds will be offered via a multiple-price Auctionauction, with a minimum mininum bid rate as published on the Authority’s website8website. USD Facility (Bid Template) Date of Bid - Bid: DDMMYYYY Name of Eligible Counterparty - Counterparty: XXX Bank Ltd Bank Code: XXXX Name of Trader - Trader: XXXXXX Telephone No. of Trader - Trader: XXXX XXXX
8.2 Each Eligible Counterparty 6.2 Applicants can only submit one (1) bid for each Auctionauction. The bid submission shall follow the following template: Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 100 84 100 120.05120
8.3 All bids submitted by the Eligible Counterparties 6.3 Applicants must indicate the tenor, bid amount and bid raterate in its submission. The bid rate must be in the form of basis points, and stated to the nearest 0.01 one basis point. Only bid rates which are at or above the minimum bid rate will be considered for the Auctionauction.
8.4 The minimum size of a 6.4 Each bid shall be at least subjected to a minimum bid size of USD 10 million, and the bid shall be rounded to the nearest USD 1 million. 7 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility 8 xxxxx://xxx.xxx.xxx.xx/monetary-policy/liquidity-facilities/mas-usd-facility.
8.5 If successful, 6.5 Successful Applicants must pay the interest payable by the successful Eligible Counterparty shall be based on the amount according to its submited bid rate which it had submitted and which that was accepted9 by the Authority accepted7 (“Accepted Bid Rate”).
8.6 . If the total bid amount received from is below the Eligible Counterparties is equal to or less than the Auction auction size, each of the all successful Eligible Counterparty Applicants will be allotted its bid amount in fullfully allotted.
8.7 6.6 If the total bid amount received from the Eligible Counterparties auction is more than the Auction size (i.e.oversubscribed, the Auction is oversubscribed), the USD funds will be alloted distributed based on the competitiveness of the bids, with each bid capped at 20% of the Auction auction size. At the Auction auction cut-off bid rate, the USD funds will be alloted allocated using the “Quantity Ceiling” Ceiling method. This means that the successful Eligible Counterparties Applicants with bids at the lowest successful cut-off bid rate will be allotted increments of US$1 million up to their bid amount (subject to the 20% cap), or until all the USD funds have been allotted, whichever comes first. If there is insufficient amount of USD funds for such Applicants to allot receive the minimum increment of US$1 million to each of the successful Eligible Counterpartieseach, the USD funds will be allotted randomly amongst distributed randomly.
6.7 If the auction is undersubscribed with at least one successful Eligible Counterparties, in blocks of US$1 million, until the USD funds have been fully allotted. If there are USD funds left and one or more bid(s) was not fully allocated due to the capping Applicant’s bid capped at 20% of the bid auction size, the remaining USD funds that were not allotted will be allotted in the next round of allotment which shall be allocated solely based on the competitiveness of the bids.10bids of such Applicants.
8.8 6.8 The Authority reserves the right to amend the format of the Auction as set out in this Clause 8 auction and allocation methodologies without prior notice.
8.9 6.9 Upon completion of the Auctionauction, the Authority MAS will inform all the successful Eligible Counterparties Applicants of the amount of USD allotted to them (i.e. the USD Principal) respectively via telephone or any other communication channel(s) as the Authority may decide.
6.10 Thereafter, successful Applicants shall send the information of the collateral to the Authority via Refinitiv FXT as set out in the following template:
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Samples: Terms and Conditions
