On November 5, 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: A27 Competitive Amount Offered: $3,000,000,000 Competitive Amount Tendered: $4,166,000,000 Competitive Amount Awarded: $3,000,010,000 Non-Competitive Amount Awarded: $43,100,000 Total Amount Awarded: $3,043,110,000 Stop-Out Rate: 0.26000 percent Bid-to-Cover Ratio (Competitive Auction): 1.39 Number of Bids Submitted: 36 Number of Participants Submitting Bids: 24 Bids at the stop-out rate were pro-rated at 63.54 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 November 8, 2012, and will mature on December 6, 2012. The stop-out rate shown above will apply to all awarded deposits.
