July 26, 2011
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on July 25, 2011
For release at 12:00 p.m. EDT
On July 25, 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:||A19|
|Competitive Amount Offered:||$5,000,000,000|
|Competitive Amount Tendered:||$6,324,000,000|
|Competitive Amount Awarded:||$5,000,000,000|
|Non-Competitive Amount Awarded:||$87,800,000|
|Total Amount Awarded:||$5,087,800,000|
|Stop-Out Rate:||0.28000 percent|
|Bid-to-Cover Ratio (Competitive Auction):||1.26|
|Number of Bids Submitted:||54|
|Number of Participants Submitting Bids:||37|
Bids at the stop-out rate were pro-rated at 42.57 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 28, 2011, and will mature on August 25, 2011. The stop-out rate shown above will apply to all awarded deposits.