On January 9, 2012, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility. Following are the results of the auction: TDF Auction ID: A22 Competitive Amount Offered: $ 3,000,000,000 Competitive Amount Tendered: $ 13,562,990,000 Competitive Amount Awarded: $ 3,000,040,000 Non-Competitive Amount Awarded: $ 78,600,000 Total Amount Awarded: $ 3,078,640,000 Stop-Out Rate: 0.26000 percent Bid-to-Cover Ratio (Competitive Auction): 4.52 Number of Bids Submitted: 66 Number of Participants Submitting Bids: 46 Bids at the stop-out rate were pro-rated at 5.85 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 Jan. 12, 2012, and will mature on February 9, 2012. The stop-out rate shown above will apply to all awarded deposits.
