On February 7, 2011, 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: A16 Competitive Amount Offered: $5,000,000,000 Competitive Amount Tendered: $12,615,010,000 Competitive Amount Awarded: $5,000,020,000 Non-Competitive Amount Awarded: $69,510,000 Total Amount Awarded: $5,069,530,000 Stop-Out Rate: 0.26000 percent Bid-to-Cover Ratio (Competitive Auction): 2.52 Number of Bids Submitted: 61 Number of Participants Submitting Bids: 41 Bids at the stop-out rate were pro-rated at 35.53 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 Feb. 10, 2011, and will mature on March 10, 2011. The stop-out rate shown above will apply to all awarded deposits.
