Off-the-run


Off-the-run
Off-the-run indicates government bonds that are no longer being issued. The Italian Economic Ministry can reoffer these securities through the marginal auction system. The price and quantity are determined by means of a discretionary award system within a minimum and maximum emission range referred to all bonds. On the contrary, on-the-run indicates bonds planned on the basis of the annual calendar of auctions.
Gruppo Banca IFIS
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