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Circular Letters


Federal Reserve Announces Results of Auction of $3 Billion in 28-Day Term Deposits Held on September 10, 2012

On September 10, 2012, 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: A26
Competitive Amount Offered: $3,000,000,000
Competitive Amount Tendered: $11,775,000,000
Competitive Amount Awarded: $3,000,010,000
Non-Competitive Amount Awarded: $40,100,000
Total Amount Awarded: $3,040,110,000
Stop-Out Rate: 0.25400 percent
Bid-to-Cover Ratio (Competitive Auction): 3.93
Number of Bids Submitted: 46
Number of Participants Submitting Bids: 27

Bids at the stop-out rate were pro-rated at 84.74 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 September 13, 2012, and will mature on October 11, 2012. The stop-out rate shown above will apply to all awarded deposits.

 

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