NEW YORK - The Treasury Department Tuesday auctioned $40 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 3.97.

Tenders at the high rate were allotted 48.85%. The median yield was 0.090%. The low yield was 0.080%.

The bills have an issue date of Feb. 16 and are due March 15.

Tenders totaled $158,792,049,000 and the Treasury accepted $40,000,349,000, including $196,376,500 non-competitive.

The Fed banks bought $3,781,546,000 for their own account in exchange for maturing securities.

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