On February 8, 2010, the Federal Reserve conducted an auction of $50 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:
| Stop-out rate: | 0.250 percent |
| Total propositions submitted: | $15.426 billion |
| Total propositions accepted: | $15.426 billion |
| Bid/cover ratio: | 0.31 |
| Number of bidders: | 103 |
The awarded loans will settle on February 11, 2010, and will mature on March 11, 2010. The stop-out rate shown above will apply to all awarded loans.
Institutions that submitted winning bids will be contacted by their respective Reserve Banks by 11:30 a.m. EST on February 9, 2010. Participants have until 12:30 p.m. EST on February 9, 2010, to inform their local Reserve Bank of any error.
