On Jan. 14, 2013, 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: A28 Competitive Amount Offered: $3,000,000,000 Competitive Amount Tendered: $5,680,000,000 Competitive Amount Awarded: $3,000,000,000 Non-Competitive Amount Awarded: $36,010,000 Total Amount Awarded: $3,036,010,000 Stop-Out Rate: 0.26000 percent Bid-to-Cover Ratio (Competitive Auction): 1.89 Number of Bids Submitted: 32 Number of Participants Submitting Bids: 20 Bids at the stop-out rate were pro-rated at 45.575 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. 17, 2013, and will mature on Feb. 14, 2013. The stop-out rate shown above will apply to all awarded deposits.
