The Treasury Department Tuesday auctioned $35 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 4.16.

Tenders at the high rate were allotted 20.11%. The median rate was 0.005%. The low rate was zero.

The bills have an issue date of September 26 and are due October 24.

Tenders totaled $145,656,568,000 and the Treasury accepted $35,001,201,000, including $243,518,700 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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