On July 12, 2010, the Federal Reserve conducted an auction of $2 billion in 84-day term deposits through its Term Deposit Facility. Following are the results of the auction: TDF Auction ID: A13 Competitive Amount Offered: $ 2,000,000,000 Competitive Amount Tendered: $ 7,398,650,000 Competitive Amount Awarded: $ 2,000,000,000 Non-Competitive Amount Awarded: $ 119,100,000 Total Amount Awarded: $ 2,119,100,000 Stop-Out Rate: 0.31000 percent Bid-to-Cover Ratio (Competitive Auction): 3.70 Number of Bids Submitted: 143 Number of Participants Submitting Bids: 94 Bids at the stop-out rate were pro-rated at 1.96 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 15, 2010, and will mature on October 7, 2010. The stop-out rate shown above will apply to all awarded deposits.
