Gary Siegel

The Federal Open Market Committee decided to keep its policy target rate and large-scale asset purchase programs basically unchanged when it met Sept. 22-23, according to minutes of the meeting released yesterday.

NEW YORK – The Federal Open Market Committee decided to keep its policy target rate and large-scale asset purchase programs basically unchanged when it met September 22-23, according to minutes of the meeting, released today.

NEW YORK - The Treasury Department today auctioned $24 billion of four-week bills at a 0.050% high yield, a price of 99.996111.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed yesterday, as the three-months incurred a 0.070% high rate, down from 0.075% the prior week, and the six-months incurred an unchanged 0.150% high rate.

Viewing some institutions as “too big to fail” creates a competitive advantage that will lead to “an ongoing moral-hazard problem” and market structure “distortions,” Federal Reserve Bank of New York president and chief executive officer William Dudley said yesterday.

Economic recovery will be moderate this year with some strengthening next year, but we will not see a V-shaped recovery that typically follows a deep recession, Federal Reserve Board vice chairman Donald Kohn said yesterday.

NEW YORK – Economic recovery will be moderate this year with some strengthening next year, but we will not see a V-shaped recovery that typically follows a deep recession, Federal Reserve Board Vice Chairman Donald L. Kohn said today.

NEW YORK – Viewing some institutions as “too big to fail” creates a competitive advantage, that will lead to “an ongoing moral hazard problem” and market structure “distortions,” Federal Reserve Bank of New York President and Chief Executive Officer William C. Dudley said today.

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.070% high rate, down from 0.075% the prior week, and the six-months incurred a 0.150% high rate, unchanged from 0.150% the week before.

NEW YORK - The Treasury Department said it will sell $24 billion of four-week discount bills tomorrow.

The Treasury Department yesterday auctioned $12 billion of 29-year 10-month bonds with a 4 1/2% coupon at a 4.009% high yield, a price of 108.490231.

The European Central Bank yesterday announced that its Governing Council held interest rates at current levels at its latest monetary policy meeting.

NEW YORK - The Treasury Department today auctioned $12 billion of 29-year 10-month bonds with a 4 1/2% coupon at a 4.009% high yield, a price of 108.490231.

NEW YORK - The Treasury Department today sold $10 billion 16-day cash management bills, dated Oct. 13, due Oct. 29, at a 0.040% high tender rate.

NEW YORK - The Treasury Department said today it will auction $30 billion 91-day bills and $30 billion 182-day discount bills Tuesday.

NEW YORK - The European Central Bank today announced its Governing Council held interest rates at current levels at its latest monetary policy meeting this morning.

The Treasury Department yesterday auctioned $20 billion of nine-year 10-month notes with a 3 5/8% coupon at a 3.210% high yield, a price of 103.470013. The bid-to-cover ratio was 3.01. Tenders at the high yield were allotted 12.77%. The median yield was 3.167%. The low yield was 3.090%.

NEW YORK - The Treasury Department auctioned $20 billion of 9-year 10-month notes with a 3 5/8% coupon at a 3.210% high yield, a price of 103.470013.

The Treasury Department yesterday auctioned $39 billion of three-year notes with a 1 3/8% coupon at a 1.445% yield, a price of 99.795210.

The Federal Reserve yesterday announced the results of its term-auction facility, selling $24.830 billion of 70-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.