The Federal Reserve Board yesterday announced the results of its term-auction facility, selling $31.075 billion of 13-day credits at a 0.380% stop-out rate.

The bid-to-cover ratio was 0.21. Total propositions submitted were $31.075 billion, and the Fed accepted $31.075 billion. There were 16 bidders.

The awarded loans will settle on Dec. 23, and will mature on Jan. 5, 2009

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.