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.