On March 3, 2014, the Federal Reserve will conduct a fixed-rate offering of term deposits through its Term Deposit Facility (TDF). The Federal Reserve will offer seven-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 Feb. 21, 2014, 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.
Description of Operation and Tender Parameters TDF Operation ID: F35 Operation Format: Fixed-Rate Term: Seven-Day Interest Rate: 0.26000% Operation Date: Monday, March 3, 2014 Opening Time: 10:00 a.m. ET Closing Time: 2:00 p.m. ET Notification Date (summary results): Tuesday, March 4, 2014 Settlement Date: Thursday, March 6, 2014 Maturity Date: Thursday, March 13, 2014 Tender Parameters Maximum Number of Tenders: 1 Minimum Tender Amount: $10,000 Tender Increment: $10,000 Maximum Tender Amount (per institution): $1,250,000,000 Award Minimum Amount: $10,000 Award Maximum Amount: $1,250,000,000 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 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 at approximately 12:00 p.m. (noon) ET on the notification date.
For media inquiries, call 202-452-2955.
