The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.170%, at a 0.170% spread, a price of par.
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The bid-to-cover ratio was 3.35.
Tenders at the high margin were allotted 12.68%.
The median discount margin was 0.155%. The low discount margin was 0.140%.
Tenders totaled $50,301,272,800 and the Treasury accepted $15,000,032,800, including $7,772,800 non-competitive.
The Fed banks bought $906,806,000 for their own account.
The notes are dated Oct. 31 and due Oct. 31, 2018.
The index determination date is Oct. 24 and the index determination rate is 0.340%.
