U.S. Treasury seeks to raise 9 million 1-year T-bill using a competitive auction. It received the following bids: $1.5 million at 5% $3 million at 5.07% $2.5 million at 4.85% $2 million at 4.96% The bid with 5.07% yield will pay highest price to buy T-bill. ABCP conduit is an independent legal structure that issues ABCP to investors. True or False True False T-bill and commercial papers are both zero coupon securities. True or False True False Quantitative easing is the program in which the central bank buys securities in the open market which helps make more credit available in the banking system. True or False True False