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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: June 1, 2011

For release at 12:00 p.m. ET

On May 31, 2011, the Federal Reserve conducted an auction of $5 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:

TDF Auction ID: A18
Competitive Amount Offered:           $5,000,000,000
Competitive Amount Tendered: $10,855,990,000
Competitive Amount Awarded:         $5,000,000,000
Non-Competitive Amount Awarded: $86,850,000
Total Amount Awarded:        $5,086,850,000
Stop-Out Rate: 0.25900 percent
Bid-to-Cover Ratio (Competitive Auction): 2.17
Number of Bids Submitted:   54
Number of Participants Submitting Bids: 40

Bids at the stop-out rate were pro-rated at 92.07 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 June 2, 2011, and will mature on June 30, 2011. The stop-out rate shown above will apply to all awarded deposits.

Last update: June 1, 2011