March 20, 2012
Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on March 19, 2012
For release at 12:00 p.m. EDT
On March 19, 2012, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:
TDF Auction ID: | A23 |
Competitive Amount Offered: | $3,000,000,000 |
Competitive Amount Tendered: | $11,408,260,000 |
Competitive Amount Awarded: | $2,999,990,000 |
Non-Competitive Amount Awarded: | $57,100,000 |
Total Amount Awarded: | $3,057,090,000 |
Stop-Out Rate: | 0.25500 percent |
Bid-to-Cover Ratio (Competitive Auction): | 3.80 |
Number of Bids Submitted: | 63 |
Number of Participants Submitting Bids: | 36 |
Bids at the stop-out rate were pro-rated at 90.14 percent. Resulting awards were rounded to the nearest $10,000 except that all awards below $10,000 were rounded up to $10,000.
The awarded deposits will settle on March 22, 2012, and will mature on April 19, 2012. The stop-out rate shown above will apply to all awarded deposits.