The Federal Reserve announced yesterday it will set a 0.20% minimum bid on its $150 billion 83-day term-auction facility credit selling today.

Results will be announced at 10 a.m., Eastern Standard Time, on Tuesday, with Friday as the settlement date. The loan matures March 26, 2009.

The Fed set a minimum bid amount of $5 million per bid, with a maximum of $15 billion per institution.

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