Press Release

September 09, 2008 Federal Reserve will offer $25 billion in 28-day credit through its Term Auction Facility today For release at 12:00 p.m. EDT Share On September 9, 2008, the Federal Reserve will offer $25 billion in 28-day credit through its Term Auction Facility.  Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility ( www.federalreserve.gov/monetarypolicy/taf.htm ). Note:  Some key deadlines have changed for this TAF auction.  Please review the following parameters.  For a list of key times to be used in upcoming auctions, see http://www.federalreserve.gov/monetarypolicy/tafdates20080811.htm Description of Offering and Auction Parameters Submission of Bids Participants must submit bids by phone to their local Reserve Bank between the opening time and closing time on the bid submission date. Notification Summary auction results will be published on the website of the Board of Governors of the Federal Reserve System ( www.federalreserve.gov/monetarypolicy/taf.htm ) at approximately 10:00 a.m. EDT on the notification date.  Between 10:00 a.m. and 11:30 a.m. EDT on the notification date, Reserve Banks will notify individual institutions in their districts that have submitted winning bids of their awards.  Participants have until noon EDT on the notification date to inform their local Reserve Bank of any error. Rounding Convention Pro rata awards will be rounded to multiples of $10,000.  Normal rounding convention will be used, except that awards under $10,000 will be rounded to $10,000.

Federal Reserve (2008, September 8). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20080909_federal_reserve_will_offer_25_billion_in_28day

@misc{wtfs_press_release_20080909_federal_reserve_will_offer_25_billion_in_28day,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2008},
  month = {Sep},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20080909_federal_reserve_will_offer_25_billion_in_28day},
  note = {Retrieved via When the Fed Speaks corpus}
}