Press Release

March 11, 2008 Federal Reserve announces results of auction of $50 billion in 28-day credit held on March 10, 2008 For release at 10:00 a.m. EDT Share On March 10, 2008, the Federal Reserve conducted an auction of $50 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction: Bids at the stop-out rate were prorated at 15.88% 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 March 13, 2008, and will mature on April 10, 2008. 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 noon EDT on March 11, 2008. Participants have until 3:00 p.m. EDT on March 11, 2008, to inform their local Reserve Bank of any error.

Federal Reserve (2008, March 10). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20080311_federal_reserve_announces_results_of_auction_of

@misc{wtfs_press_release_20080311_federal_reserve_announces_results_of_auction_of,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2008},
  month = {Mar},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20080311_federal_reserve_announces_results_of_auction_of},
  note = {Retrieved via When the Fed Speaks corpus}
}