How many decimal places should be used when bidding? Securities lending bids are submitted in percent form out to two decimal places. Bids with more than two decimal places will not be accepted by FedTrade. What are the minimum and maximum bid rates? The minimum bid rate is 5 basis points. There is no maximum bid rate. What is the term of the loan? The securities lending program allows borrowing on an overnight basis. The overnight basis will be determined in accordance with market trading conventions.
Are there any excluded issues? Under most circumstances, only issues with a maturity of less than fourteen days are excluded from auctions. Where do dealers call if they experience difficulties? For procedural questions, dealers should contact the Treasury Market Policy staff on the Open Market Desk via their direct lines, or at How are collateral pledges handled? New York Fed Domestic Account Services contacts dealer firms via telephone to obtain collateral pledges on loans awarded.
If dealers experience difficulty making delivery of the pledged collateral, they should notify New York Fed Domestic Account Services as soon as possible via their direct lines, or at , as failure to collateralize a loan will result in heavy penalties.
What collateral is eligible for pledging? The schedule below contains the eligible collateral for the securities lending program and applicable margin. The New York Fed may periodically make changes to the eligible collateral for the securities lending program and applicable margin and, accordingly, this schedule is subject to change.
This schedule may be periodically updated without notice and is not binding on the New York Fed in any particular transaction. When are loans delivered? How is the lending fee calculated? The securities lending fee rate is applied to the market value of the loaned security, as determined by the New York Fed.
It is calculated on an actual over basis. How are fails handled? Loans that are not returned on the maturity date are considered fails.
Auctions will be held on a weekly basis, beginning on March 27, Information on Related Actions Being Taken by Other Central Banks Information on the actions that will be taken by other central banks is available at the following websites:.
Search Submit Search Button. Toggle Dropdown Menu. Search Search Submit Button Submit. The TSLF extensions under Schedule 2 collateral involved the authority of Section 13 3 of the Federal Reserve Act, which permitted the Board, in unusual and exigent circumstances, to authorize Reserve Banks to extend credit to individuals, partnerships, and corporations.
Schedule 1 collateral is eligible for open market operations , so TSLF extensions against such collateral did not require 13 3 authority. All securities loans made under the facility were repaid in full, with interest, in accordance with the terms of the facility. Visit the Excel viewer for more information. Filter and sort features have been added to the column headers in the Excel spreadsheet to assist you with searching and to allow for the creation of custom datasets.
Click on the arrow button in each column header to view and select the different filter and sort features. Compressed ZIP files are available through 7-zip. Download the free 7-zip compression utility. The following information on TSLF transactions is provided:.
Search Submit Search Button. Toggle Dropdown Menu. Search Search Submit Button Submit. Share RSS. Last Update: February 12,
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