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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Term Auction Facility

Under the Term Auction Facility (TAF), the Federal Reserve will auction term funds to depository institutions. All depository institutions that are eligible to borrow under the primary credit program will be eligible to participate in TAF auctions. All advances must be fully collateralized. Each TAF auction will be for a fixed amount, with the rate determined by the auction process (subject to a minimum bid rate). Bids will be submitted by phone through local Reserve Banks. The final Term Auction Facility auction was conducted on March 8, 2010.

Current Auctions
January 11 Announcement Results
February 8 Announcement Results
March 8 Announcement Results

Related Press Releases

Last update: September 13, 2010