(from Patrick Doyle)
Below is a table of the results of the last 3 TAF auctions
Of note is the spread to OIS (FF’s) which is inside the historic LIBOR / OIS spread. There were less participants in this round as well
This all bodes well and is showing the easing of pressure in the funding markets.
| Jan. 15 2008 |
Dec. 21 2007 |
Dec. 19 2007 |
|
| Stop-out rate: | 3.95% | 4.67% | 4.65% |
| Total propositions submitted: | $55.526 Bil. | $57.664 Bil. | $61.553 Bil. |
| Total propositions accepted: | $30.000 Bil. | $20.000 Bil. | $20.000 Bil. |
| Bid/cover ratio: | 1.85 | 2.88 | 3.08 |
| Number of bidders: | 56 | 73 | 93 |
| Term | 28-day loan | 35-day loan | 28-day loan |
| Settlement Date | Jan. 17, 2008 | Dec. 27, 2007 | Dec. 20, 2007 |
| Maturity Date | Feb. 14, 2008 | Jan. 31, 2008 | Jan. 17, 2008 |
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