Can a Participant call to change or cancel a Bid before the Closing Time? Or at any time before the Auction results are determined?
Once submitted, Participants may not cancel Bids. As Reserve Bank discount window staff records a Bid, the staff member will validate the Bid information on the phone call on a recorded phoneline with the Participant. Where Participants require two Authorized Submitters to request a discount window loan under OC-10, the Reserve Bank discount window staff will need to speak with two Authorized Submitters to complete the Bid submission/verification process.
