Term Auction Facility

Under the Term Auction Facility (TAF), the Federal Reserve will auction term funds to depository institutions. All depository institutions that are eligible to borrow under the primary credit program will be eligible to participate in TAF auctions. All advances must be fully collateralized. Each TAF auction will be for a fixed amount, with the rate determined by the auction process (subject to a minimum bid rate). Bids will be submitted by phone through local Reserve Banks.

• Federal Reserve Bank contacts
• Frequently asked questions
• Terms and conditions (50 KB PDF)

Current Auctions
May	5	Announcement	Results
	19

2008 - Previous Auctions
January	14	Announcement	Results
	28	Announcement	Results
February	11	Announcement	Results
	25	Announcement	Results
March	10	Announcement	Results
	24	Announcement	Results
April	7	Announcement	Results
	21	Announcement	Results

2007 - Previous Auctions
December	17	Announcement	Results
	20	Announcement	Results

• Related Press Releases
• May 2, 2008
• March 28, 2008
• March 7, 2008
• February 29, 2008
• February 1, 2008
• January 4, 2008
• December 21, 2007
• December 12, 2007