T-bill auction is a public auction for Treasury bills that is held weekly by the U.S. Treasury. The approved primary bidders submit either competitive bids or noncompetitive bids.

Which of the following is a characteristic of a Treasury Bill auction? Check all that apply.

The Treasury announces on Thursday how many and what types of T-bills it will sell the following Monday.

Bidders submit competitive bids between Thursday and Monday.

Everyone whose bid was accepted pays the same price.

No one bidder is allowed to purchase more than 35% of any issue.