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Term Securities Lending Facility

In addition to the daily Securities Lending program, the Bank provides Treasury general collateral financing through the Term Securities Lending Facility (TSLF) to promote liquidity in Treasury and other collateral markets and thus foster the functioning of financial markets more generally. TSLF auctions offer Treasury securities held by the System Open Market Account (SOMA) for loan over a one-month term against program-eligible general collateral. Securities loans are awarded to primary dealers based on competitive single-price auctions. The TSLF Options Program (TOP), which has been suspended, offered options to borrow Treasury securities against program-eligible collateral over a short term that crossed key financing dates.

News and Announcements

Tentative TSLF Auction Schedule through January 2010 September 24, 2009

Tentative TSLF Auction Schedule for Third Quarter 2009 June 29, 2009

Federal Reserve announces extensions of and modifications to a number of its liquidity programs June 25, 2009

New York Fed Announces Terms for June TSLF Options Program May 27, 2009

Tentative TSLF Auction Schedule for June 2009 May 27, 2009

New York Fed Issues Tentative TSLF Auction Schedule for April and May, Reduces Frequency of Schedule 2 TSLF Auctions March 24, 2009

New York Fed Announces Terms for March TSLF Options Program February 26, 2009

Tentative TSLF auction schedule for March 2009 February 26, 2009

Federal Reserve announces the extension of five liquidity facilities through October 30, 2009 February 3, 2009

Tentative TSLF auction schedule for February 2009 January 29, 2009

Federal Reserve announces the extension of three liquidity facilities through April 30, 2009 December 2, 2008

Tentative TSLF Auction Schedule for November and December October 31, 2008

New York Fed Announces Terms for November and December TSLF Options Program October 31, 2008

Tentative TSLF Auction Schedule During Transition From Current Cycle September 15, 2008

Board announces several initiatives to provide additional support to financial markets September 14, 2008

New York Fed Announces Terms for September TSLF Options Program (TOP) August 8, 2008

New York Fed to Consult with Primary Dealers on TSLF Options Program July 30, 2008

Federal Reserve, European Central Bank and Swiss National Bank announce an expansion of liquidity measures May 2, 2008

New York Fed Announces Modifications to Terms and Conditions of Term Securities Lending Facility March 20, 2008