June 01, 2011
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on May 31, 2011
For release at 12:00 p.m. EDT
On May 31, 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: | A18 |
| Competitive Amount Offered: | $5,000,000,000 |
| Competitive Amount Tendered: | $10,855,990,000 |
| Competitive Amount Awarded: | $5,000,000,000 |
| Non-Competitive Amount Awarded: | $86,850,000 |
| Total Amount Awarded: | $5,086,850,000 |
| Stop-Out Rate: | 0.25900 percent |
| Bid-to-Cover Ratio (Competitive Auction): | 2.17 |
| Number of Bids Submitted: | 54 |
| Number of Participants Submitting Bids: | 40 |
Bids at the stop-out rate were pro-rated at 92.07 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 June 2, 2011, and will mature on June 30, 2011. The stop-out rate shown above will apply to all awarded deposits.