April 05, 2011
Federal Reserve announces results of auction of $5 billion in 28-day term deposits held on April 4, 2011
For release at 12:00 p.m. EDT
On April 4, 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: | A17 |
| Competitive Amount Offered: | $5,000,000,000 |
| Competitive Amount Tendered: | $10,988,490,000 |
| Competitive Amount Awarded: | $5,000,010,000 |
| Non-Competitive Amount Awarded: | $80,800,000 |
| Total Amount Awarded: | $5,080,810,000 |
| Stop-Out Rate: | 0.26000 percent |
| Bid-to-Cover Ratio (Competitive Auction): | 2.20 |
| Number of Bids Submitted: | 59 |
| Number of Participants Submitting Bids: | 43 |
Bids at the stop-out rate were pro-rated at 11.62 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 April 7, 2011, and will mature on May 5, 2011. The stop-out rate shown above will apply to all awarded deposits.