May 15, 2012
Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on May 14, 2012
For release at 12:00 p.m. EDT
On May 14, 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:||A24|
|Competitive Amount Offered:||$3,000,000,000|
|Competitive Amount Tendered:||$10,871,250,000|
|Competitive Amount Awarded:||$3,000,010,000|
|Non-Competitive Amount Awarded:||$53,250,000|
|Total Amount Awarded:||$3,053,260,000|
|Stop-Out Rate:||0.25500 percent|
|Bid-to-Cover Ratio (Competitive Auction):||3.62|
|Number of Bids Submitted:||51|
|Number of Participants Submitting Bids:||30|
Bids at the stop-out rate were pro-rated at 31.92 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 May 17, 2012, and will mature on June 14, 2012. The stop-out rate shown above will apply to all awarded deposits.