New York Fed to Discuss TSLF Terms and Conditions with Primary Dealers

March 13, 2008

Today and tomorrow, staff of the Federal Reserve Bank of New York will meet individually with each primary dealer and continue to evaluate comments from other market participants regarding the terms and conditions of the Term Securities Lending Facility ("TSLF"). Specifically, among the topics we will discuss are general market conditions as related to the TSLF, collateral eligibility, and the potential schedule and sizes of auctions, the first of which is scheduled for Thursday, March 27. The Bank intends to provide additional information on the TSLF terms and conditions within the next week.