The Federal Reserve yesterday announced the results of its term-auction facility, selling $142.448 billion of 28-day credits at a 0.250% stop-out rate, the lowest rate at which the offering amount clears, which is the sole rate awarded to all the successful bids.
The bid-to-cover ratio was 0.95.
Bids at the stop-out rate were prorated at 100% and resulting awards were rounded to the nearest $10,000.
Total propositions submitted were $142.448 billion, and the Fed accepted $142.448 billion. There were 117 bidders. The average bid was $1.218 billion.
The awarded loans will settle on Feb. 12 and will mature on March 12.