The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.175% high yield, a price of 99.823056.
The coupon equivalent was 0.178%. The bid-to-cover ratio was 4.71.
Tenders at the high rate were allotted 42.32%. The median yield was 0.170%. The low yield was 0.160%.
The bills have an issue date of July 26 and are due July 25, 2013.
Tenders totaled $117,792,913,700 and the Treasury accepted $25,000,153,700, including $138,648,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.