June 29, 2010
Federal Reserve announces results of auction of $2 billion in 28-day term deposits held on June 28, 2010
For release at 12:00 p.m. EDT
On June 28, 2010, the Federal Reserve conducted an auction of $2 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:
|TDF Auction ID:||A12|
|Competitive Amount Offered:||$ 2,000,000,000|
|Competitive Amount Tendered:||$ 11,135,780,000|
|Competitive Amount Awarded:||$ 2,000,000,000|
|Non-Competitive Amount Awarded:||$ 121,880,000|
|Total Amount Awarded:||$ 2,121,880,000|
|Stop-Out Rate:||0.27000 percent|
|Bid-to-Cover Ratio (Competitive Auction):||5.57|
|Number of Bids Submitted:||181|
|Number of Participants Submitting Bids:||107|
Bids at the stop-out rate were pro-rated at 94.79 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 July 1, 2010, and will mature on July 29, 2010. The stop-out rate shown above will apply to all awarded deposits.