Fed Sets 2.86% Minimum Bid Rate For TAFs

The Federal Reserve Friday announced it set a 2.86% minimum bid rate for the $30 billion 28-day term auction facility it will auction this week.

Results will be announced at 10 a.m. Eastern Standard Time on Tuesday, with Thursday as the settlement date. The loan matures March 13.

The Fed set a minimum bid amount of $5 million per bid, with a maximum of $3 billion per institution.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER