October 20, 2016

Federal Reserve announces results of offering of seven-day term deposits on October 20

For release at 3:30 p.m. EDT

On October 20, 2016, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point.

Following are the results of the operation:

TDF Operation ID:    F66
Total Amount Awarded:    $48,601,100,000
Number of Participants:    24

The awarded deposits will settle on October 20, 2016, and will mature on October 27, 2016. The operation effective rate will apply to all awarded deposits.

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Last Update: October 20, 2016