I don’t think that word means what you think it means.
It’s pretty hard to interpret the motion to make sizes adjustable to read “if interest rates are zero for all durations and 50% or more liquidity is on the buy walls during the 6 seconds per week I care to look, NSR auctions will cease immediately.”
The way I read it, it says if interest is zero and 50% or more is on buy walls, the auction ceases. Interest rates are zero, there’s 50% or more on buy walls, the auction should cease.
I will even accept that you did not have time to cease the auctions this week and will let it slide. If you continue the auction next week, you have violated a shareholder voted motion in my mind by selling from reserve outside of mandated action. Again, only in my mind, so if that doesn’t hold weight to you, you are free to ignore it.
