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.

Last Update: July 26, 2011