November 03, 2009

Federal Reserve announces results of auction of $25 billion in 70-day credit held on November 2, 2009

For release at 10:00 a.m. EST

On November 2, 2009, the Federal Reserve conducted an auction of $25 billion in 70-day credit through its Term Auction Facility. Following are the results of the auction:


Stop-out rate: 0.250 percent
Total propositions submitted: $13.152 billion
Total propositions accepted: $13.152 billion
Bid/cover ratio: 0.53
Number of bidders: 53


The awarded loans will settle on November 5, 2009, and will mature on January 14, 2010. 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 November 3, 2009. Participants have until 12:30 p.m. EST on November 3, 2009, to inform their local Reserve Bank of any error.

Last Update: November 03, 2009