For Immediate Release CONTACT: Office of Financing
September 24, 2008 202-504-3550
TREASURY AUCTION RESULTS
Term and Type of Security 7-Day Bill
CUSIP Number 912795G88
High Rate1 0.050%
Allotted at High 82.27%
Price 99.999028
Investment Rate2 0.051%
Median Rate3 0.000%
Low Rate4 0.000%
Issue Date September 25, 2008
Maturity Date October 02, 2008
Tendered Accepted
Competitive $103,711,000,000 $39,927,923,400
Noncompetitive $72,222,000 $72,222,000
FIMA (Noncompetitive) $0 $0
Subtotal5 $103,783,222,000 $40,000,145,4006
SOMA $0 $0
Total $103,783,222,000 $40,000,145,400
Tendered Accepted
Primary Dealer7 $66,222,000,000 $18,340,100,000
Direct Bidder8 $8,050,000,000 $7,995,567,500
Indirect Bidder9 $29,439,000,000 $13,592,255,900
Total Competitive $103,711,000,000 $39,927,923,400
1 6
All tenders at lower rates were accepted in full. Awards to combined Treasury Direct systems = $0.
2 7
Equivalent coupon-issue yield. Primary dealers as submitters bidding for their own house accounts.
3 8
50% of the amount of accepted competitive tenders was tendered at or below Non-Primary dealer submitters bidding for their own house accounts.
that rate. 9
Customers placing competitive bids through a direct submitter, including
4 Foreign and International Monetary Authorities placing bids through the
5% of the amount of accepted competitive tenders was tendered at or below
that rate. Federal Reserve Bank of New York.
5
Bid-to-Cover Ratio: $103,783,222,000/$40,000,145,400 = 2.59