February 24, 2009

Federal Reserve announces results of auction of $150 billion in 84-day credit held on February 23, 2009

For release at 10:00 a.m. EST

On February 23, 2009, the Federal Reserve conducted an auction of $150 billion in 84-day credit through its Term Auction Facility. Following are the results of the auction:


Stop-out rate: 0.250 percent
Total propositions submitted: $111.683 billion
Total propositions accepted: $111.683 billion
Bid/cover ratio: 0.74
Number of bidders: 96


The awarded loans will settle on February 26, 2009, and will mature on May 21, 2009. 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 February 24, 2009. Participants have until 12:30 p.m. EST on February 24, 2009, to inform their local Reserve Bank of any error.

Last Update: February 24, 2009