The Federal Reserve announced yesterday that it will set a 0.25% minimum bid on its $25 billion 42-day Term Auction Facility.

Results will be announced at 10 a.m. Eastern Standard Time today, with Thursday as the settlement date. The loan matures Jan. 14, 2010.

The Fed set a minimum bid amount of $5 million per bid, with a maximum of $2.5 billion per institution.

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