On June 14, 2010, the Federal Reserve conducted an auction of $1 billion in 14-day term deposits through its Term Deposit Facility. Following are the results of the auction: TDF Auction ID: A11 Competitive Amount Offered: $ 1,000,000,000 Competitive Amount Tendered: $ 6,138,150,000 Competitive Amount Awarded: $ 1,000,000,000 Non-Competitive Amount Awarded: $ 152,450,000 Total Amount Awarded: $ 1,152,450,000 Stop-Out Rate: 0.27000 percent Bid-to-Cover Ratio (Competitive Auction): 6.14 Number of Bids Submitted: 194 Number of Participants Submitting Bids: 109 Bids at the stop-out rate were pro-rated at 24.00 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 June 17, 2010, and will mature on July 1, 2010. The stop-out rate shown above will apply to all awarded deposits.
