June 01, 2011
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on May 31, 2011
For release at 12:00 p.m. EDT
On May 31, 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:||A18|
|Competitive Amount Offered:||$5,000,000,000|
|Competitive Amount Tendered:||$10,855,990,000|
|Competitive Amount Awarded:||$5,000,000,000|
|Non-Competitive Amount Awarded:||$86,850,000|
|Total Amount Awarded:||$5,086,850,000|
|Stop-Out Rate:||0.25900 percent|
|Bid-to-Cover Ratio (Competitive Auction):||2.17|
|Number of Bids Submitted:||54|
|Number of Participants Submitting Bids:||40|
Bids at the stop-out rate were pro-rated at 92.07 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 2, 2011, and will mature on June 30, 2011. The stop-out rate shown above will apply to all awarded deposits.