The Treasury Department Wednesday auctioned $45 billion of four-week bills at a 0.110% high yield, a price of 99.991444.

The coupon equivalent was 0.112%. The bid-to-cover ratio was 4.18.

Tenders at the high rate were allotted 3.46%. The median rate was 0.095%. The low rate was 0.080%.

The bills have an issue date of Feb. 28 and are due March 28.

Tenders totaled $188,168,466,200 and the Treasury accepted $45,001,476,200, including $267,842,300 non-competitive.

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

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