Federal Reserve Announces Results of Auction of $5 Billion in 28-Day Term Deposits Held on November 29, 2010

On November 29, 2010, the Federal Reserve conducted an auction of $5 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction:

TDF Auction ID: A15
Competitive Amount Offered: $ 5,000,000,000
Competitive Amount Tendered: $ 14,664,090,000
Competitive Amount Awarded: $ 5,000,030,000
Non-Competitive Amount Awarded: $ 113,260,000
Total Amount Awarded: $ 5,113,290,000
   
Stop-Out Rate: 0.26000 percent
Bid-to-Cover Ratio (Competitive Auction): 2.93
   
Number of Bids Submitted: 88
Number of Participants Submitting Bids: 62

Bids at the stop-out rate were pro-rated at 71.83 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 December 2, 2010, and will mature on December 30, 2010. The stop-out rate shown above will apply to all awarded deposits.