February 08, 2011
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on February 7, 2010
For release at 12:00 p.m. EST
On February 7, 2011, the Federal Reserve conducted an auction of $5 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:
|TDF Auction ID:||A16|
|Competitive Amount Offered:||$5,000,000,000|
|Competitive Amount Tendered:||$12,615,010,000|
|Competitive Amount Awarded:||$5,000,020,000|
|Non-Competitive Amount Awarded:||$69,510,000|
|Total Amount Awarded:||$5,069,530,000|
|Stop-Out Rate:||0.26000 percent|
|Bid-to-Cover Ratio (Competitive Auction):||2.52|
|Number of Bids Submitted:||61|
|Number of Participants Submitting Bids:||41|
Bids at the stop-out rate were pro-rated at 35.53 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 February 10, 2011, and will mature on March 10, 2011. The stop-out rate shown above will apply to all awarded deposits.