Fed Announces Results of Auction of $3 Billion in 28-day Term Deposits
On March 11, 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:||A29|
|Competitive Amount Offered:||$3,000,000,000|
|Competitive Amount Tendered:||$9,415,000,000|
|Competitive Amount Awarded:||$3,000,010,000|
|Non-Competitive Amount Awarded:||$45,100,000|
|Total Amount Awarded:||$3,045,110,000|
|Stop-Out Rate:||0.25500 percent|
|Bid-to-Cover Ratio (Competitive Auction):||3.14|
|Number of Bids Submitted:||41|
|Number of Participants Submitting Bids:||25|
Bids at the stop-out rate were pro-rated at 53.037 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 March 14, 2013, and will mature on April 11, 2013. The stop-out rate shown above will apply to all awarded deposits.