June 15, 2010
Federal Reserve announces results of auction of $1 billion in 14-day term deposits held on June 14, 2010
For release at 1:00 p.m. EDT
On June 14, 2010, the Federal Reserve conducted an auction of $1 billion in 14-day term deposits through its Term Deposit Facility. Following are the results of the auction:
|TDF Auction ID:||A11|
|Competitive Amount Offered:||$ 1,000,000,000|
|Competitive Amount Tendered:||$ 6,138,150,000|
|Competitive Amount Awarded:||$ 1,000,000,000|
|Non-Competitive Amount Awarded:||$ 152,450,000|
|Total Amount Awarded:||$ 1,152,450,000|
|Stop-Out Rate:||0.27000 percent|
|Bid-to-Cover Ratio (Competitive Auction):||6.14|
|Number of Bids Submitted:||194|
|Number of Participants Submitting Bids:||109|
Bids at the stop-out rate were pro-rated at 24.00 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 June 17, 2010, and will mature on July 1, 2010. The stop-out rate shown above will apply to all awarded deposits.