The Treasury Department today auctioned $30 billion of four-week bills at a zero high yield, a price of par.
The bid-to-cover ratio was 6.68. Tenders at the high rate were allotted 19.77%. The bills have an issue date of Dec. 29 and are due Jan. 26, 2012. Tenders totaled $200,416,444,800 and the Treasury accepted $30,012,430,000, including $228,554,800 non-competitive.
The Federal Reserve banks bought $6,285,071,700 for their own account in exchange for maturing securities.