Term Securities Lending Facility

The Term Securities Lending Facility (TSLF) was a weekly loan facility that promoted liquidity in Treasury and other collateral markets and thus fostered the functioning of financial markets more generally. The program offered Treasury securities held by the System Open Market Account (SOMA) for loan over a one-month term against other program-eligible general collateral. Securities loans were awarded to primary dealers based on a competitive single-price auction. The TSLF was announced on March 11, 2008, and the first auction was conducted on March 27, 2008. The TSLF was closed on February 1, 2010.

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Last Update: February 05, 2010