On October 4, 2010, the Federal Reserve conducted an auction of $5 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction: TDF Auction ID: A14 Competitive Amount Offered: $5,000,000,000 Competitive Amount Tendered: $13,608,290,000 Competitive Amount Awarded: $5,000,000,000 Non-Competitive Amount Awarded: $113,410,000 Total Amount Awarded: $5,113,410,000 Stop-Out Rate: 0.26900 percent Bid-to-Cover Ratio: 2.72 Number of Bids Submitted: 108 Number of Participants Submitting Bids: 74 Bids at the stop-out rate were pro-rated at 28.00 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 October 7, 2010, and will mature on November 4, 2010. The stop-out rate shown above will apply to all awarded deposits.
