March 12, 2013
Federal Reserve announces results of auction of $3 billion in 28-day term deposits from its Term Deposit Facility
For release at 12:00 p.m. EDT
On March 11, 2013, 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: | A29 |
| Competitive Amount Offered: | $3,000,000,000 |
| Competitive Amount Tendered: | $9,415,000,000 |
| Competitive Amount Awarded: | $3,000,010,000 |
| Non-Competitive Amount Awarded: | $45,100,000 |
| Total Amount Awarded: | $3,045,110,000 |
| Stop-Out Rate: | 0.25500 percent |
| Bid-to-Cover Ratio (Competitive Auction): | 3.14 |
| Number of Bids Submitted: | 41 |
| Number of Participants Submitting Bids: | 25 |
Bids at the stop-out rate were pro-rated at 53.037 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 14, 2013, and will mature on April 11, 2013. The stop-out rate shown above will apply to all awarded deposits.