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.

Last Update: September 11, 2012