September 20, 2011
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on September 19, 2011
For release at 12:00 p.m. EDT
On September 19, 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:||A20|
|Competitive Amount Offered:||$5,000,000,000|
|Competitive Amount Tendered:||$12,057,990,000|
|Competitive Amount Awarded:||$5,000,000,000|
|Non-Competitive Amount Awarded:||$77,050,000|
|Total Amount Awarded:||$5,077,050,000|
|Stop-Out Rate:||0.26500 percent|
|Bid-to-Cover Ratio (Competitive Auction):||2.41|
|Number of Bids Submitted:||62|
|Number of Participants Submitting Bids:||43|
Bids at the stop-out rate were pro-rated at 17.50 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 September 22, 2011, and will mature on October 20, 2011. The stop-out rate shown above will apply to all awarded deposits.