The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.160% high yield, a price of 99.838222.
The coupon equivalent was 0.162%. The bid-to-cover ratio was 4.96.
Tenders at the high rate were allotted 88.37%. The median yield was 0.155%. The low yield was 0.140%.
The bills have an issue date of Dec. 13 and are due Dec. 12, 2013.
Tenders totaled $123,959,390,800 and the Treasury accepted $25,000,640,300, including $145,390,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.