On Nov. 29, 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: A15 Competitive Amount Offered: $ 5,000,000,000 Competitive Amount Tendered: $ 14,664,090,000 Competitive Amount Awarded: $ 5,000,030,000 Non-Competitive Amount Awarded: $ 113,260,000 Total Amount Awarded: $ 5,113,290,000 Stop-Out Rate: 0.26000 percent Bid-to-Cover Ratio (Competitive Auction): 2.93 Number of Bids Submitted: 88 Number of Participants Submitting Bids: 62 Bids at the stop-out rate were pro-rated at 71.83 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 Dec. 2, 2010, and will mature on Dec. 30, 2010. The stop-out rate shown above will apply to all awarded deposits.
