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Press Release

Federal Reserve Press Release

Release Date: March 9, 2010

For release at 10:00 a.m. EST

On March 8, 2010, the Federal Reserve conducted an auction of $25 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:

Stop-out rate: 0.500 percent
     
Total propositions submitted: $3.410 billion
Total propositions accepted: $3.410 billion
Bid/cover ratio: 0.14
     
Number of bidders: 53

The awarded loans will settle on March 11, 2010, and will mature on April 8, 2010. The stop-out rate shown above will apply to all awarded loans.

Institutions that submitted winning bids will be contacted by their respective Reserve Banks by 11:30 a.m. EST on March 9, 2010. Participants have until 12:30 p.m. EST on March 9, 2010, to inform their local Reserve Bank of any error.

 
Last update: March 9, 2010