The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.188%, at a 0.190% spread, a price of 100.003698.
The bid-to-cover ratio was 3.15.
Tenders at the high margin were allotted 68.73%.
The median discount margin was 0.174%. The low discount margin was 0.150%.
Tenders totaled $41,008,826,000 and the Treasury accepted $13,000,016,000, including $3,826,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated June 24 and due April 30, 2018.
The index determination date is June 20 and the index determination rate is 0.270%.
