Term Auction Facility

Under the Term Auction Facility (TAF), the Federal Reserve auctioned term funds to depository institutions. All depository institutions that were eligible to borrow under the primary credit program were eligible to participate in TAF auctions. All advances were fully collateralized. Each TAF auction was for a fixed amount, with the rate determined by the auction process (subject to a minimum bid rate). Bids were 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

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Last Update: November 24, 2015