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

As part of the TSLF Options Program (TOP), the Federal Reserve Bank of New York will offer options on TSLF Schedule 2 loans spanning March quarter-end. The program will operate according to the following schedule, with all other parameters consistent with the previously published terms and conditions.

 
March quarter-end
 
 
Loan collateral
Schedule 2
 
 
Fixed loan rate
0.2500 percent
 
 
Total offering amount
$50 billion
 
 
Maximum award
20% of offering
 
 
Minimum option fee rate
0.0100 percent
 
 
Option auction date
   Start time
   Close time
  March 3, 2009
  02:00 p.m. ET
  02:30 p.m. ET
 
 
Option exercise date
March 26, 2009
 
 
Loan settlement date
March 27, 2009
 
 
Loan term
7-day
 
 
Loan maturity date
April 3, 2009