October 20, 2009

Federal Reserve announces results of auction of $75 billion in 28-day credit held on October 19, 2009

For release at 10:00 a.m. EDT

On October 19, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:


Stop-out rate: 0.250 percent
Total propositions submitted: $39.566 billion
Total propositions accepted: $39.566 billion
Bid/cover ratio: 0.53
Number of bidders: 83


The awarded loans will settle on October 22, 2009, and will mature on November 19, 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. EDT on October 20, 2009. Participants have until 12:30 p.m. EDT on October 20, 2009, to inform their local Reserve Bank of any error.

Last Update: October 20, 2009