Federal Reserve Announces Results of Auction of $3 Billion in 28-day Term Deposits Held on January 14, 2013

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.