The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.060% high yield, a price of 99.995333.
The coupon equivalent was 0.061%. The bid-to-cover ratio was 4.08.
Tenders at the high rate were allotted 36.73%. The median rate was 0.050%. The low rate was zero.
The bills have an issue date of Dec 6 and are due Jan. 3, 2013.
Tenders totaled $163,007,071,300 and the Treasury accepted $40,001,035,800, including $244,043,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.