The Treasury Department Tuesday auctioned $23 billion of 364-day bills at a 0.280% high yield and a price of 99.716889.

The coupon equivalent was 0.284%. The bid-to-cover ratio was 4.56. Tenders at the high rate were allotted 18.73%. The median yield was 0.270%.

The low yield was 0.250%. The bills have an issue date of Nov. 18 and are due Nov. 17, 2011. Tenders totaled $104,985,330,600 and the Treasury accepted $23,000,443,600, including $211,830,600 of noncompetitive.

Treasury also auctioned $25 billion of four-week bills at a 0.125% high yield and a price of 99.990278. The coupon ­equivalent was 0.127%. The bid-to-cover ratio was 4.31.

Tenders at the high rate were allotted 61.88%. The median yield was 0.110%. The low yield was 0.080%. Tenders ­totaled $107,770,927,300 and the Treasury accepted $25,000,307,300, including $275,736,100 of noncompetitive.

Federal Reserve banks bought $5,937,991,000 for their own account in exchange for maturing securities.

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