New York Fed Announces Terms for June TSLF Options Program

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New York Fed Announces Terms for June TSLF Options Program

May 27, 2009

General

As part of the TSLF Options Program (TOP), the Federal Reserve Bank of New York will offer options on TSLF Schedule 2 loans spanning June quarter end. The program will operate according to the following schedule, with all other parameters consistent with the previously published terms and conditions.

June quarter-end

Loan collateral

Schedule 2

Fixed loan rate

0.2500 percent

Total offering amount

$50 billion

Maximum award

20% of offering

Minimum option fee rate

0.0100 percent

Option auction date

Start time

Close time

June 3, 2009

02:00 p.m. ET

02:30 p.m. ET

Option exercise date

June 24, 2009

Loan settlement date

June 25, 2009

Loan term

7-day

Loan maturity date

July 2, 2009

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