An additional 15% of the competitive issue amount is made available to the participants for the submission of non-competitive bids.
Each bank is entitled to submit a non-competitive bid via ADAS until 11:00 a.m. CET one business banking day after the announcement of competitive allotments.
The individual amount of non-competitive bids for each bank must not exceed a certain percentage - corresponding to each bank's market-share (i.e. the weighted average of the competitive allotments as expressed in percent) of the previous two auctions and predefined secondary market criteria - of the non-competitive issue size. The allotment of the non-competitive bids is executed at the average price of the accepted competitive bids.