The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.015% high yield, a price of 99.998833.
The coupon equivalent was 0.015%. The bid-to-cover ratio was 3.99.
Tenders at the high rate were allotted 76.59%. The median rate was zero. The low rate was zero.
The bills have an issue date of Dec 20 and are due Jan. 17, 2013.
Tenders totaled $159,548,635,400 and the Treasury accepted $40,000,200,400, including $327,511,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.