The Federal Reserve announced Friday it will set a 2.81% minimum bid on its $30 billion 28-day term-auction facility credit selling Feb. 25.

Results will be announced at 10 a.m. Eastern Stabdard Time on Tuesday, with Thursday as the settlement date. The loan matures March 27.

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

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