Fed Sets 2.01% Minimum On $75B 28-Day TAFs

The Federal Reserve yesterday announced it set a 2.01% minimum bid on its $75 billion 28-day term auction facility credit, which sold yesterday.

Results will be announced at 10 a.m. Eastern Daylight Time today, with Thursday as the settlement date. The loan matures July 31.

The Fed set a minimum bid amount of $5 million per bid, with a maximum of $7.5 billion per institution.

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