The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.168%, at a 0.168% spread, a price of 99.999999.
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The bid-to-cover ratio was 3.10.
Tenders at the high margin were allotted 84.66%.
The median discount margin was 0.144%. The low discount margin was 0.100%.
Tenders totaled $46,459,581,400 and the Treasury accepted $15,000,016,400, including $4,581,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated Oct. 31 and due Oct. 31, 2017.
The index determination date is Oct. 26 and the index determination rate is 0.020%.
