March 20, 2012
Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on March 19, 2012
For release at 12:00 p.m. EDT
On March 19, 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:||A23|
|Competitive Amount Offered:||$3,000,000,000|
|Competitive Amount Tendered:||$11,408,260,000|
|Competitive Amount Awarded:||$2,999,990,000|
|Non-Competitive Amount Awarded:||$57,100,000|
|Total Amount Awarded:||$3,057,090,000|
|Stop-Out Rate:||0.25500 percent|
|Bid-to-Cover Ratio (Competitive Auction):||3.80|
|Number of Bids Submitted:||63|
|Number of Participants Submitting Bids:||36|
Bids at the stop-out rate were pro-rated at 90.14 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 March 22, 2012, and will mature on April 19, 2012. The stop-out rate shown above will apply to all awarded deposits.