New York Fed Announces Terms for
March TSLF Options Program
As part of the TSLF Options Program (TOP), the Federal Reserve Bank of New York will offer options on TSLF Schedule 2 loans spanning March quarter-end. The program will operate according to the following schedule, with all other parameters consistent with the previously published terms and conditions.
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March quarter-end |
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Loan collateral |
Schedule 2 |
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Fixed loan rate |
0.2500 percent |
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Total offering
amount |
$50 billion |
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Maximum award |
20% of offering |
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Minimum option fee rate |
0.0100 percent |
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Option auction
date |
Start
time |
Close
time |
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March
3, 2009 |
02:00 p.m.
ET |
02:30 p.m.
ET |
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Option exercise date |
March 26, 2009 |
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Loan settlement date |
March 27, 2009 |
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Loan term |
7-day |
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Loan maturity date |
April 3, 2009 |
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