The Treasury Department Monday auctioned $20 billion of four-week bills at a 0.005% high yield, a price of 99.999611.
The coupon equivalent was 0.005%. The bid-to-cover ratio was 5.02.
Tenders at the high rate were allotted 14.10%. The median rate was zero. The low rate was zero.
The bills have an issue date of December 26 and are due January 23, 2014.
Tenders totaled $100,364,788,100 and the Treasury accepted $20,000,488,100, including $242,735,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.