September 11, 2012
Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on September 10, 2012
For release at 12:00 p.m. EDT
On September 10, 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:||A26|
|Competitive Amount Offered:||$3,000,000,000|
|Competitive Amount Tendered:||$11,775,000,000|
|Competitive Amount Awarded:||$3,000,010,000|
|Non-Competitive Amount Awarded:||$40,100,000|
|Total Amount Awarded:||$3,040,110,000|
|Stop-Out Rate:||0.25400 percent|
|Bid-to-Cover Ratio (Competitive Auction):||3.93|
|Number of Bids Submitted:||46|
|Number of Participants Submitting Bids:||27|
Bids at the stop-out rate were pro-rated at 84.74 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 13, 2012, and will mature on October 11, 2012. The stop-out rate shown above will apply to all awarded deposits.