Click Cover to Read Digital Edition



Shared Servicing & Outsourcing
Feb. 23-24
San Francisco
ABA Mutual Community Bank Conference
March 1-5
Gaylord Palms Resort
ABA Mutual Community Bank Conference
March 22 & 23
Marriott Marquis
Washington, D.C.
Card Forum & Expo
April 8-10
More events >  

<- Back

Share |

Print Friendly and PDF

Fed Offers $3 Billion in 28-Day Term Deposits Through its Term Deposit Facility


March 6 - On March 11, 2013, the Federal Reserve will offer $3 billion in 28-day term deposits through its Term Deposit Facility. As noted in the Federal Reserve Board's Sept. 8, 2010, release, this offering is part of ongoing small-value operations designed to provide eligible institutions with an opportunity to become familiar with term deposit operations. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation D, and the terms and conditions of the Term Deposit Facility (

Description of Offering and Competitive Auction Parameters

TDF Auction ID: A29 
Offering Amount: $3,000,000,000 
Term: 28 days 
Auction Date: Monday, March 11, 2013 
Opening Time: 10:00 a.m. ET 
Closing Time: 2:00 p.m. ET 
Notification Date: Tuesday, March 12, 2013 
Settlement Date: Thursday, March 14, 2013 
Maturity Date: Thursday, April 11, 2013 
Competitive Auction Parameters    
Maximum Number of Bids: 3 
Minimum Bid Amount (per bid): $10,000 
Bid Increment: $10,000 
Maximum Bid Amount (per institution): $1,250,000,000           
Maximum Bid Rate: 0.75000% 
Incremental Bid Rate: 0.00100% 
Award Minimum Amount: $10,000 
Award Maximum Amount: $1,250,000,000 
Competitive bids submitted at the stop-out rate will be pro-rated and will be rounded to multiples of $10,000. Normal rounding convention will be used, except that awards under $10,000 will be rounded to $10,000.

Non-competitive bids are allowed in this auction. All non-competitive bids will be automatically awarded in full at the stop-out rate of the competitive auction. The minimum amount for a non-competitive bid is $10,000; the maximum amount is $5,000,000 and should be submitted in increments of $10,000. Non-Competitive bids must be submitted between 10:00 a.m. ET and 2:00 p.m. ET on the auction date.

Submission of Bid

Participants must submit bids by accessing the Term Deposit Facility application ( between the opening time and the closing time on the auction date.

Summary auction results will be published on the Board of Governors' website ( at approximately 12:00 p.m. ET on the notification date. Soon after, results will be posted on the Term Deposit Facility Resource Center page of the Central Bank Central website (  Participant awards will be posted to the Term Deposit Facility application at approximately 12:00 p.m. ET on the notification date, and participants will be able to view their awards by accessing the Term Deposit Facility application.