Press Release

July 10, 2013 Federal Reserve offers 28-day term deposits with full allotment at 26 basis points through its Term Deposit Facility For release at 1:00 p.m. EDT Share On July 15, 2013, the Federal Reserve will conduct a fixed-rate offering of term deposits with full allotment of tenders through its Term Deposit Facility (TDF). The Federal Reserve will offer 28-day term deposits with an interest rate of 0.26000 percent and a maximum tender amount of $1,250,000,000. As noted in the Federal Reserve Board's April 26, 2013, release, this operation is part of ongoing small-value operations designed to provide eligible institutions with an opportunity to gain familiarity with term deposit operations. Additional information regarding the operation is listed below; the operation will be conducted as specified in this announcement, Regulation D, and the terms and conditions of the Term Deposit Facility ( http://www.frbservices.org/centralbank/term_deposit_facility.html ). Description of Operation and Tender Parameters All tenders that are complete and compliant with the operation parameters listed above will be automatically awarded in full at the interest rate shown above. The minimum tender amount is $10,000; the maximum amount is $1,250,000,000 and should be submitted in increments of $10,000. All tenders must be submitted between the opening and closing time on the operation date. Submission of Tender Participants must submit tenders by accessing the Term Deposit Facility application ( https://www.federalreserve.org/arrow/ARROWWeb/home.do ) between the opening time and the closing time on the operation date. Notification Participants will be able to view their awards by accessing the Term Deposit Facility application. Summary operation results will be published on the Board of Governors' website ( http://www.federalreserve.gov/monetarypolicy/tdf.htm ) at approximately 12:00 p.m. (noon) ET on the notification date. Soon after, summary results will be posted on the Term Deposit Facility Resource Center page of the Central Bank Central website ( http://www.frbservices.org/centralbank/term_deposit_facility.html ).

Federal Reserve (2013, July 9). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20130710_agencies_issue_proposed_rule_to_exempt_subset_of

@misc{wtfs_press_release_20130710_agencies_issue_proposed_rule_to_exempt_subset_of,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2013},
  month = {Jul},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20130710_agencies_issue_proposed_rule_to_exempt_subset_of},
  note = {Retrieved via When the Fed Speaks corpus}
}