The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.020% high yield, a price of 99.998444.
The coupon equivalent was 0.020%. The bid-to-cover ratio was 3.28.
Tenders at the high rate were allotted 49.69%. The median rate was 0.010%. The low rate was zero.
The bills have an issue date of Dec. 18 and are due Jan. 15, 2015.
Tenders totaled $131,363,398,700 and the Treasury accepted $40,000,068,700, including $248,501,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
