When my application is pro-rated, what would I expect to see in terms of deduction?

Q: When my application is pro-rated, what would I expect to see in terms of deduction?

For cash applications : You will receive a combined refund on the (i) non-allotted amount, and (ii) discount on the face value of T-bills which you have been allotted. Using a 6-month T-bills with a cut-off yield of 4.00% and cut-off price of S$98.005 (rounded to 3 decimal places) per S$100 in face value as an example. If you have submitted a non-competitive application of S$2,000, and was only allotted S$1,000, you will receive a combined refund of (i) S$1,000 of your non-allotted amount, and (ii) discount on the face value of T-bills, which would be S$19.95. Note : The discount rate of the T-bills is the cut-off yield at the auction. For CPFIS and SRS applications : Only the settlement amount (allotted amount net of the discount) will be deducted from your respective accounts. Using the same example above, if you submitted a non-competitive application of S$2,000 and was only allotted S$1,000, only the settlement amount of S$980.05 will be deducted from your account.

Question

Accepted Answer

For cash applications: You will receive a combined refund on the (i) non-allotted amount, and (ii) discount on the face value of T-bills which you have been allotted.

Using a 6-month T-bills with a cut-off yield of 4.00% and cut-off price of S$98.005 (rounded to 3 decimal places) per S$100 in face value as an example. If you have submitted a non-competitive application of S$2,000, and was only allotted S$1,000, you will receive a combined refund of (i) S$1,000 of your non-allotted amount, and (ii) discount on the face value of T-bills, which would be S$19.95.

Note: The discount rate of the T-bills is the cut-off yield at the auction.

For CPFIS and SRS applications: Only the settlement amount (allotted amount net of the discount) will be deducted from your respective accounts.

Using the same example above, if you submitted a non-competitive application of S$2,000 and was only allotted S$1,000, only the settlement amount of S$980.05 will be deducted from your account.

When my application is pro-rated, what would I expect to see in terms of deduction?

Topics:

Related questions

When will the funds be debited from my account?

How are the T-bills allotted and how are the yields of the T-bills allotted to me determined?

Upon maturity of the T-bills, how much will I receive? When will I receive the principal amount?

Why is the amount of refund I received different from what I had calculated based on the auction results?

Need more help?