The Fed says its $2B auction of 84-day term deposits goes off at 0.31%, with bid-to-cover ratio...

|By:, SA News Editor

The Fed says its $2B auction of 84-day term deposits goes off at 0.31%, with bid-to-cover ratio of 3.70. The central bank has been ratcheting up the tests of the deposits to see their viability for soaking up excess liquidity as a recovery gains strength.