January 12, 2010
Federal Reserve announces results of auction of $75 billion in 28-day credit held on January 11, 2010
For release at 10:00 a.m. EST
On January 11, 2010, 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:||$38.531 billion|
|Total propositions accepted:||$38.531 billion|
|Number of bidders:||121|
The awarded loans will settle on January 14, 2010, and will mature on February 11, 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 January 12, 2010. Participants have until 12:30 p.m. EST on January 12, 2010, to inform their local Reserve Bank of any error.