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Term Auction Facility (TAF) Data

Term Auction Facility (TAF) Data

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Published by TheBusinessInsider
Bank funding markets, especially term funding markets, came under severe pressure at the start of the financial crisis in 2007. Amid widespread concerns about the condition of many financial institutions, investors became very reluctant to lend, especially at maturities beyond the very shortest terms. To address these funding pressures, the Federal Reserve first took steps to increase the amount of liquidity available to financial institutions through the discount window. However, many banks were reluctant to borrow at the discount window out of fear that their borrowing would become known and would be erroneously taken as a sign of financial weakness. To meet the demands for term funding more directly, the Federal Reserve established the Term Auction Facility (TAF) in December 2007.

Under the program, the Federal Reserve auctioned 28-day loans, and, beginning in August 2008, 84-day loans, to depository institutions in generally sound financial condition. The TAF enabled the Federal Reserve to provide term funds to a broader range of counterparties and against a broader range of collateral than it could through open market operations. As a result, the TAF helped promote the distribution of liquidity when unsecured bank funding markets were under stress. It also provided access to term credit without the stigma that had been associated with use of the discount window.

All depository institutions that were eligible to borrow under the Federal Reserve’s primary credit program were eligible to participate in the TAF. All U.S. depository institutions and U.S. branches and agencies of foreign institutions that maintain deposits subject to reserve requirements are eligible to borrow from the Federal Reserve’s discount window. Of those institutions, primary credit, and thus also the TAF, is available only to institutions that are financially sound.
Bank funding markets, especially term funding markets, came under severe pressure at the start of the financial crisis in 2007. Amid widespread concerns about the condition of many financial institutions, investors became very reluctant to lend, especially at maturities beyond the very shortest terms. To address these funding pressures, the Federal Reserve first took steps to increase the amount of liquidity available to financial institutions through the discount window. However, many banks were reluctant to borrow at the discount window out of fear that their borrowing would become known and would be erroneously taken as a sign of financial weakness. To meet the demands for term funding more directly, the Federal Reserve established the Term Auction Facility (TAF) in December 2007.

Under the program, the Federal Reserve auctioned 28-day loans, and, beginning in August 2008, 84-day loans, to depository institutions in generally sound financial condition. The TAF enabled the Federal Reserve to provide term funds to a broader range of counterparties and against a broader range of collateral than it could through open market operations. As a result, the TAF helped promote the distribution of liquidity when unsecured bank funding markets were under stress. It also provided access to term credit without the stigma that had been associated with use of the discount window.

All depository institutions that were eligible to borrow under the Federal Reserve’s primary credit program were eligible to participate in the TAF. All U.S. depository institutions and U.S. branches and agencies of foreign institutions that maintain deposits subject to reserve requirements are eligible to borrow from the Federal Reserve’s discount window. Of those institutions, primary credit, and thus also the TAF, is available only to institutions that are financially sound.

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Published by: TheBusinessInsider on Dec 01, 2010
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 TERM AUCTION FACILITY DATALoan dateMaturity dateTermDec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828New York (2)Dec 20 2007Jan 17 200828Richmond (5)Dec 20 2007Jan 17 200828Chicago (7)Dec 20 2007Jan 17 200828St. Louis (8)Dec 20 2007Jan 17 200828Dallas (11)Dec 20 2007Jan 17 200828San Francisco (12)Dec 20 2007Jan 17 200828San Francisco (12)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Lending FederalReserve District
 
Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835New York (2)Dec 27 2007Jan 31 200835Cleveland (4)Dec 27 2007Jan 31 200835Richmond (5)Dec 27 2007Jan 31 200835Atlanta (6)Dec 27 2007Jan 31 200835Chicago (7)Dec 27 2007Jan 31 200835San Francisco (12)Dec 27 2007Jan 31 200835San Francisco (12)Dec 27 2007Jan 31 200835St. Louis (8)Dec 27 2007Jan 31 200835San Francisco (12)Dec 27 2007Jan 31 200835San Francisco (12) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828New York (2) Jan 17 2008Feb 14 200828Cleveland (4) Jan 17 2008Feb 14 200828Cleveland (4) Jan 17 2008Feb 14 200828Richmond (5) Jan 17 2008Feb 14 200828Atlanta (6) Jan 17 2008Feb 14 200828Chicago (7) Jan 17 2008Feb 14 200828Chicago (7) Jan 17 2008Feb 14 200828St. Louis (8) Jan 17 2008Feb 14 200828Minneapolis (9) Jan 17 2008Feb 14 200828Dallas (11) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828Boston (1) Jan 17 2008Feb 14 200828Cleveland (4) Jan 17 2008Feb 14 200828Atlanta (6) Jan 17 2008Feb 14 200828Kansas City (10)
 
 Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 17 2008Feb 14 200828San Francisco (12) Jan 31 2008Feb 28 200828Boston (1) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828New York (2) Jan 31 2008Feb 28 200828Cleveland (4) Jan 31 2008Feb 28 200828Richmond (5) Jan 31 2008Feb 28 200828Richmond (5) Jan 31 2008Feb 28 200828Atlanta (6) Jan 31 2008Feb 28 200828Atlanta (6) Jan 31 2008Feb 28 200828Atlanta (6) Jan 31 2008Feb 28 200828Atlanta (6) Jan 31 2008Feb 28 200828Chicago (7) Jan 31 2008Feb 28 200828Chicago (7) Jan 31 2008Feb 28 200828Chicago (7) Jan 31 2008Feb 28 200828St. Louis (8) Jan 31 2008Feb 28 200828Minneapolis (9) Jan 31 2008Feb 28 200828Minneapolis (9) Jan 31 2008Feb 28 200828Kansas City (10) Jan 31 2008Feb 28 200828San Francisco (12) Jan 31 2008Feb 28 200828San Francisco (12) Jan 31 2008Feb 28 200828San Francisco (12) Jan 31 2008Feb 28 200828Richmond (5) Jan 31 2008Feb 28 200828Atlanta (6) Jan 31 2008Feb 28 200828St. Louis (8) Jan 31 2008Feb 28 200828Minneapolis (9)Feb 14 2008Mar 13 200828Boston (1)Feb 14 2008Mar 13 200828New York (2)Feb 14 2008Mar 13 200828New York (2)Feb 14 2008Mar 13 200828New York (2)Feb 14 2008Mar 13 200828New York (2)Feb 14 2008Mar 13 200828New York (2)Feb 14 2008Mar 13 200828New York (2)Feb 14 2008Mar 13 200828New York (2)

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