Reopening
2-Year Floating Rate Note auction result for November 22, 2022
The 2-Year Floating Rate Note reopening held on November 22, 2022 and a bid-to-cover ratio of 2.45. Bid-to-cover decreased from 2.65 at the preceding comparable auction.
High discount rate
—
Bid-to-cover
2.45
Direct bidders
4.7%
Primary dealers
51.5%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2022-11-22 | 1Y Note · reopening | High discount rate: — | 2.45 | $22.0B | 4.7% | 43.5% | 51.5% |
| 2022-10-26 | 2Y Note | High discount rate: — | 2.65 | $24.0B | 1.5% | 72.5% | 25.9% |
| 2022-09-28 | 1Y Note · reopening | High discount rate: — | 2.84 | $22.0B | 1.7% | 64.1% | 34.1% |
| 2022-08-24 | 1Y Note · reopening | High discount rate: — | 2.57 | $22.0B | 0.9% | 57.0% | 42.0% |
| 2022-07-27 | 2Y Note | High discount rate: — | 3.13 | $24.0B | 1.0% | 63.8% | 27.1% |
| 2022-07-14 | 1Y Note · reopening | High discount rate: — | 5.32 | $25.0M | 0.0% | 0.0% | 100.0% |
| 2022-06-22 | 1Y Note · reopening | High discount rate: — | 3.49 | $22.0B | 6.9% | 67.0% | 25.8% |
| 2022-05-25 | 1Y Note · reopening | High discount rate: — | 3.22 | $22.0B | 4.5% | 73.0% | 22.3% |
| 2022-04-27 | 2Y Note | High discount rate: — | 2.51 | $24.0B | 18.3% | 25.8% | 43.5% |
| 2022-03-23 | 1Y Note · reopening | High discount rate: — | 3.75 | $22.0B | 0.0% | 76.0% | 23.7% |
| 2022-02-23 | 1Y Note · reopening | High discount rate: — | 3.22 | $22.0B | 0.0% | 72.7% | 27.2% |
| 2022-01-26 | 2Y Note | High discount rate: — | 3.34 | $26.0B | 0.0% | 65.6% | 21.3% |
| 2021-12-29 | 1Y Note · reopening | High discount rate: — | 4.03 | $24.0B | 10.7% | 48.0% | 29.3% |
| 2021-11-23 | 1Y Note · reopening | High discount rate: — | 2.80 | $24.0B | 1.2% | 77.5% | 21.1% |
| 2021-10-27 | 2Y Note | High discount rate: — | 2.99 | $28.0B | 0.8% | 58.9% | 30.9% |
| 2021-09-22 | 1Y Note · reopening | High discount rate: — | 2.84 | $26.0B | 0.0% | 57.2% | 42.7% |
| 2021-08-25 | 1Y Note · reopening | High discount rate: — | 3.17 | $26.0B | 1.3% | 69.0% | 29.6% |
2-Year FRN history page is not yet available · Official result document