Term Securities Lending Facility
The Term Securities Lending Facility is a 28-day lending facility that offers Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus foster the functioning of financial markets more generally.
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Auction Results
January 07, 2010
 
Collateral
Par
Submitted 4
Par
Accepted 5
Bid-to-
Cover 6
Stop-out
Rate 7
 
 
Treasury GC Schedule 2
0
0
0.00
0.2500
 


Auction Announcement
January 06, 2010
 
Auction Details 1
 
 
Auction collateral type 2
Schedule 2
 
 
Offering amount
$25 billion par
 
 
Maximum award
$5 billion par (20% of offering)
 
 
Minimum fee rate
0.2500 percent
 
 
Auction date
    Start time
    Close time
January 07, 2010
02:00 p.m. ET
02:30 p.m. ET
 
 
Settlement date
January 08, 2010
 
 
Term
28-day
 
 
Maturity date
February 05, 2010
 

 
Treasury General Collateral Basket
 
 
Security Description
Amount Available for Loan 3
 
 
T 00.875 12/31/10
4,104
 
 
T 00.875 04/30/11
3,081
 
 
T 04.125 08/31/12
3,498
 
 
T 04.250 11/15/14
1,654
 
 
T 07.500 11/15/16
5,716
 
 
T 04.000 08/15/18
6,946
 
Recent Operations ››  

*All par amounts in millions of dollars unless otherwise stated.

1 For more information please refer to TSLF Program Terms and Conditions
2 A listing of eligible collateral for each auction type is available under Terms and Conditions.
3 Amounts are rounded to the nearest million.
4 "Par Submitted" represents the total par amount of propositions received.
5 "Par Accepted" represents the total par amount lent.
6 "Bid-to-Cover" represents the ratio of "Par Submitted" to the offering amount.
7 "Stop-out Rate" represents the lowest accepted fee rate for which accepted propositions are awarded. The lending fee can be thought of as approximately equivalent to the spread between the Treasury general collateral rate and the general collateral rate for the pledged collateral over the term of the loan.