January 10, 2012

Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on January 9, 2012

For release at 12:00 p.m. EST

On January 9, 2012, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:

TDF Auction ID: A22
Competitive Amount Offered:           $ 3,000,000,000
Competitive Amount Tendered: $ 13,562,990,000
Competitive Amount Awarded:         $ 3,000,040,000
Non-Competitive Amount Awarded: $ 78,600,000
Total Amount Awarded:        $ 3,078,640,000
Stop-Out Rate: 0.26000 percent
Bid-to-Cover Ratio (Competitive Auction): 4.52
Number of Bids Submitted:   66
Number of Participants Submitting Bids: 46

Bids at the stop-out rate were pro-rated at 5.85 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 January 12, 2012, and will mature on February 9, 2012. The stop-out rate shown above will apply to all awarded deposits.

Last Update: January 10, 2012