July 13, 2010
Federal Reserve announces results of auction of $2 billion in 84-day term deposits held on July 12, 2010
For release at 12:00 p.m. EDT
On July 12, 2010, the Federal Reserve conducted an auction of $2 billion in 84-day term deposits through its Term Deposit Facility. Following are the results of the auction:
| TDF Auction ID: | A13 |
| Competitive Amount Offered: | $ 2,000,000,000 |
| Competitive Amount Tendered: | $ 7,398,650,000 |
| Competitive Amount Awarded: | $ 2,000,000,000 |
| Non-Competitive Amount Awarded: | $ 119,100,000 |
| Total Amount Awarded: | $ 2,119,100,000 |
| Stop-Out Rate: | 0.31000 percent |
| Bid-to-Cover Ratio (Competitive Auction): | 3.70 |
| Number of Bids Submitted: | 143 |
| Number of Participants Submitting Bids: | 94 |
Bids at the stop-out rate were pro-rated at 1.96 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 15, 2010, and will mature on October 7, 2010. The stop-out rate shown above will apply to all awarded deposits.