The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.195% high yield, a price of 99.802833.
The coupon equivalent was 0.198%. The bid-to-cover ratio was 4.55.
Tenders at the high rate were allotted 90.96%. The median yield was 0.190%. The low yield was 0.185%.
The bills have an issue date of Aug. 23 and are due Aug. 22, 2013.
Tenders totaled $113,814,201,700 and the Treasury accepted $25,000,901,700, including $163,201,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.