January 15, 2013

Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on January 14, 2013

For release at 12:00 p.m. EST

On January 14, 2013, 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: A28
Competitive Amount Offered:           $3,000,000,000
Competitive Amount Tendered: $5,680,000,000
Competitive Amount Awarded:         $3,000,000,000
Non-Competitive Amount Awarded: $36,010,000
Total Amount Awarded:        $3,036,010,000
Stop-Out Rate: 0.26000 percent
Bid-to-Cover Ratio (Competitive Auction): 1.89
Number of Bids Submitted:   32
Number of Participants Submitting Bids: 20









Bids at the stop-out rate were pro-rated at 45.575 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 17, 2013, and will mature on February 14, 2013.  The stop-out rate shown above will apply to all awarded deposits.

Last Update: January 15, 2013