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.