This is the highest rate yet since January
Release Date: July 29, 2008
For release at 10:00 a.m. EDT
On July 28, 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: 2.350 percent
Total propositions submitted: $90.555 billion
Total propositions accepted: $75.000 billion
Bid/cover ratio: 1.21
Number of bidders: 70
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