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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: March 20, 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.

Last update: March 20, 2012