On April 4, 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: A17 Competitive Amount Offered: $5,000,000,000 Competitive Amount Tendered: $10,988,490,000 Competitive Amount Awarded: $5,000,010,000 Non-Competitive Amount Awarded: $80,800,000 Total Amount Awarded: $5,080,810,000 Stop-Out Rate: 0.26000 percent Bid-to-Cover Ratio (Competitive Auction): 2.20 Number of Bids Submitted: 59 Number of Participants Submitting Bids: 43 Bids at the stop-out rate were pro-rated at 11.62 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 April 7, 2011, and will mature on May 5, 2011. The stop-out rate shown above will apply to all awarded deposits.
