On June 28, 2010, the Federal Reserve conducted an auction of $2 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction: TDF Auction ID: A12 Competitive Amount Offered: $ 2,000,000,000 Competitive Amount Tendered: $ 11,135,780,000 Competitive Amount Awarded: $ 2,000,000,000 Non-Competitive Amount Awarded: $ 121,880,000 Total Amount Awarded: $ 2,121,880,000 Stop-Out Rate: 0.27000 percent Bid-to-Cover Ratio (Competitive Auction): 5.57 Number of Bids Submitted: 181 Number of Participants Submitting Bids: 107 Bids at the stop-out rate were pro-rated at 94.79 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 July 1, 2010, and will mature on July 29, 2010. The stop-out rate shown above will apply to all awarded deposits.
