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Non-Tech : USAB - USABancShares.com
USAB 75.000.0%Dec 29 4:00 PM EST
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To: Triffin who wrote (716)4/23/1999 8:26:00 PM
From: Kevin McKenzie  Read Replies (1) of 2419
 
Not at all counter-intuitive. This is how T-Bills are auctioned already.

Let's say USAB starts with a ceiling return of 7.5%. Someone might be willing to accept a yield of 7 1/8%, another might accept a yield of 7 % . . . and so on. So finally the best bid on the CD is 6 3/4%.

It'll work just fine. I think its popularity will depend on how high the ceiling yields are.
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