The amount of term-auction facility credits offered at the Federal Reserve’s two August auctions will be $100 billion, a reduction from the $125 billion they have been previously and which have not been completely subscribed to, the Fed announced Friday.
Specifically, the Fed said it will offer $100 billion of 84-day credits on Aug. 10 and $100 billion of 28-day credits on Aug. 24.
“This reduction is consistent with the expectation indicated in the Federal Reserve’s June 25 press release that TAF auction amounts would be reduced gradually further in coming months if market conditions continue to improve,” the Fed said in a statement.
