Press Release
![Federal Reserve Press Release](https://webarchive.library.unt.edu/web/20090510142553im_/https://www.federalreserve.gov/gifjpg/PRimage.gif)
Release Date: May 5, 2009
For release at 10:00 a.m. EDT
On May 4, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:
Stop-out rate: | 0.250 percent |
Total propositions submitted: | $131.562 billion |
Total propositions accepted: | $131.562 billion |
Bid/cover ratio: | 0.88 |
Number of bidders: | 124 |
The awarded loans will settle on May 7, 2009, and will mature on June 4, 2009. The stop-out rate shown above will apply to all awarded loans.
Institutions that submitted winning bids will be contacted by their respective Reserve Banks by 11:30 a.m. EDT on May 5, 2009. Participants have until 12:30 p.m. EDT on May 5, 2009, to inform their local Reserve Bank of any error.
Last update:
May 5, 2009