Fed Sells $47.77B of TAFs At 0.250% Stop-Out Rate

The Federal Reserve yesterday said it sold $47.768 billion of 84-day term auction facility credits at a 0.250% stop-out rate.

The bid-to-cover ratio was 0.38. There were 87 bidders. The average bid was $549 million. The awarded loans will settle on July 16, and will mature on Oct. 8.

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