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Press Release

Federal Reserve Press Release

Release Date: December 15, 2009

For release at 10:00 a.m. EST

On December 14, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:

Stop-out rate: 0.250 percent
Total propositions submitted: $46.035 billion
Total propositions accepted: $46.035 billion
Bid/cover ratio: 0.61
Number of bidders: 102

The awarded loans will settle on December 17, 2009, and will mature on January 14, 2010. 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. EST on December 15, 2009. Participants have until 12:30 p.m. EST on December 15, 2009, to inform their local Reserve Bank of any error.

Last update: December 15, 2009