The Federal Reserve yesterday announced it auctioned $75 billion of 28-day term-auction facilities credits at a 2.350% stop-out rate.

The bid-to-cover ratio was 1.21. Bids at the stop-out rate were prorated at 24.75%. Total propositions submitted were $90.555 billion, and the Fed accepted $75.000 billion. There were 70 bidders.

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