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Press Release

Federal Reserve Press Release

Release Date: August 11, 2009

For release at 10:00 a.m. EDT

On August 10, 2009, the Federal Reserve conducted an auction of $100 billion in 84-day credit through its Term Auction Facility. Following are the results of the auction:

Stop-out rate: 0.250 percent
Total propositions submitted: $42.941 billion
Total propositions accepted: $42.941 billion
Bid/cover ratio: 0.43
Number of bidders: 91

The awarded loans will settle on August 13, 2009, and will mature on November 5, 2009. The stop-out rate shown above will apply to all awarded loans.

Institutions that submitted winning bids will be contacted by their respective Reserve Banks by 11:30 a.m. EDT on August 11, 2009. Participants have until 12:30 p.m. EDT on August 11, 2009, to inform their local Reserve Bank of any error.

Last update: August 11, 2009