On Sept. 19, 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: A20 Competitive Amount Offered: $5,000,000,000 Competitive Amount Tendered: $12,057,990,000 Competitive Amount Awarded: $5,000,000,000 Non-Competitive Amount Awarded: $77,050,000 Total Amount Awarded: $5,077,050,000 Stop-Out Rate: 0.26500 percent Bid-to-Cover Ratio (Competitive Auction): 2.41 Number of Bids Submitted: 62 Number of Participants Submitting Bids: 43 Bids at the stop-out rate were pro-rated at 17.50 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 Sept. 22, 2011, and will mature on Oct. 20, 2011. The stop-out rate shown above will apply to all awarded deposits.
