What Are Mini-Auctions
Mini-auctions provide MAS with the flexibility to issue more bonds if there are surges in demand.
What It Is
Their purpose is to allow MAS to address unexpected instances of strong demand for bonds.
When Mini-Auctions Are Held
Unlike normal auctions, MAS will announce its decision on whether there will be a mini-auction 1 month before the scheduled issuance date. If the decision is to have a mini-auction, MAS will also announce the bond to be re-opened.