Credit Markets Research Paper Example | Topics and Well Written Essays - 750 words

Credit Markets - Research Paper Example The next step in the treasury auction process is the bidding process, which entails the prospective buyers of the credit items making the bids, either through a process of competitive or noncompetitive bidding (Treasurydirect.gov, n.p.). The competitive bidding allows the prospective buyers to offer their bids competitively up to the maximum limited amount of securities, while in the noncompetitive bidding; the prospective buyers have to agree with the terms of the sale of the securities as set. The final process in the treasury auction process is the issuance stage, which is the stage where the bidders who successfully bid and were allocated securities in different categories have the securities delivered to them. When treasury delivers the securities to the bidders, it then charges the total amount of the cost of securities on the accounts of the successful bidders (Treasurydirect.gov, n.p.). 2. Discuss the activities of other major new debt-securities issuances (agency, municipal, foreign, and others) from collected articles, including lead underwriter(s), the amount of each issue, and other reported terms. Major new debt-securities issuances have been occurring in the USA credit market. Among the major new issuances in 2015 include the issuance of securities worth $483.615 million by the Washington Municipal (Thomson Reuters, n.p.). The Washington Municipal securities were preliminarily issued on February 10, 2015, with the Foster Pepper being the underwriters and also the bookkeepers (Thomson Reuters, n.p.). Another new security issuance includes that of the Michigan Finance Authority worth 197.535 million, which was issued on February 13 of this year, with the J P Morgan Securities LLC., being the underwriters (Thomson Reuters, n.p.). On the industrial front, OHR Pharmaceutical issued new securities worth $25.0 million on 5th February of this year, with Cowen Group being the underwriters (Thomson