The Federal Reserve announced today it will set a 1.11% minimum bid on its $150 billion 28-day term auction facility credit, which sold yesterday.

Results will be announced at 10 a.m., Eastern Time, on Tuesday, with Thursday as the settlement date. The loan matures Nov. 20.

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


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