Titulo
The National Government uses for its financing in the local market the structure of Dutch Auctions, which is the mechanism of choice for placing short and long-term TES debt securities. The Ministry of Finance and Public Credit establish the rules and regulations for defining cut-off rate. Depending on the amount of debt to be issued, bids are honored over or under this set rate. Auctions are the main mechanism for TES debt securities. Consented and forced bond placement with State Entities are also important for meeting annual funding goals.