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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: December 19, 2008

For release at 8:00 a.m. EST

Today, the Federal Reserve, the Bank of England, the Bank of Japan, the European Central Bank (ECB), and the Swiss National Bank are announcing schedules for term auctions of U.S. dollar liquidity to be conducted during the first quarter of 2009.  These schedules cover operations providing 28-day and 84-day dollar liquidity.  Schedules for provision of dollar liquidity at other terms will be announced separately by individual central banks.  Central banks will continue to work together to address pressures in global money markets.

Federal Reserve Actions
During the first quarter of 2009, the Federal Reserve will conduct three auctions of 28-day credit and three auctions of 84-day credit through its Term Auction Facility (TAF), as indicated in the schedule below.

Schedule for 28-day and 84-day TAF Auctions
First Quarter 2009

 Auction Date


 Settlement Date

 Maturity Date

12 January 2009

28 days

15 January 2009

12 February 2009

 26 January 2009

 84 days

29 January 2009

 23 April 2009

 9 February 2009

 28 days

 12 February 2009

 12 March 2009

 23 February 2009

 84 days

 26 February 2009

 21 May 2009

 9 March 2009

 28 days

 12 March 2009

9 April 2009

 23 March 2009

 84 days

 26 March 2009

 18 June 2009

Related Announcements by Other Central Banks
Information on related announcements by other central banks is available at the following websites:

Bank of England Leaving the Board

Bank of Japan (79 KB PDF) Leaving the Board

European Central Bank Leaving the Board

Swiss National Bank (61 KB PDF) Leaving the Board

Last update: December 19, 2008