Fed 84-Day TAFs Go At 2.754% Stop-Out Rate

The Federal Reserve yesterday announced the results of its term auction facility, selling $25 billion of 84-day credits at a 2.754% 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 2.19. Bids at the stop-out rate were prorated at 80.00%.

Total propositions submitted were $54.800 billion, and the Fed accepted $25.000 billion. There were 64 bidders. The average bid was $856 million.

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