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Term Securities Lending Facility

The Term Securities Lending Facility was created in March 2008 to promote liquidity in Treasury and other collateral markets and thus foster the functioning of financial markets more generally. TSLF auctions offered Treasury general collateral held by the System Open Market Account for loan over a one-month term against program-eligible general collateral. Securities loans were awarded to primary dealers based on competitive single-price auctions. The facility expired on February 1, 2010. The TSLF Options Program (TOP), created in July 2008 and suspended in October 2009, offered options to borrow Treasury securities against program-eligible collateral over a short term that crossed key financing dates. The TSLF commenced on March 27, 2008 and expired on February 1, 2010.

News and Announcements

January 26-27 Federal Open Market Committee meeting statement January 27, 2010

Tentative TSLF Auction Schedule through January 2010 September 24, 2009

Tentative TSLF Auction Schedule for Third Quarter 2009 June 29, 2009

Federal Reserve announces extensions of and modifications to a number of its liquidity programs June 25, 2009

New York Fed Announces Terms for June TSLF Options Program May 27, 2009

Tentative TSLF Auction Schedule for June 2009 May 27, 2009

New York Fed Issues Tentative TSLF Auction Schedule for April and May, Reduces Frequency of Schedule 2 TSLF Auctions March 24, 2009

New York Fed Announces Terms for March TSLF Options Program February 26, 2009

Tentative TSLF auction schedule for March 2009 February 26, 2009

Federal Reserve announces the extension of five liquidity facilities through October 30, 2009 February 3, 2009

Tentative TSLF auction schedule for February 2009 January 29, 2009

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