This mark the most dramatic rate increase to date.
The current auction went off .16% higher than the last
On June 2, 2008, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:
Stop-out rate: 2.26 percent
Total propositions submitted: $95.914 billion
Total propositions accepted: $75.000 billion
Bid/cover ratio: 1.28
Number of bidders: 73
Bids at the stop-out rate were prorated at 48.47% and resulting awards were rounded to the nearest $10,000 (except that all awards below $10,000 are rounded up to $10,000).
The awarded loans will settle on June 5, 2008, and will mature on July 3, 2008. The stop-out rate shown above will apply to all awarded loans.
Disclosure (“none” means no position):
