To address the disruptions in the financial markets, the Federal Reserve has enhanced its funding support for financial institutions, including expansion of the Term Auction Facility (TAF).
On Oct. 6, the Board of Governors announced that the sizes of both 28-day and 84-day TAF auctions would be boosted to $150 billion each. These increases will eventually bring the amounts outstanding under the regular TAF program to $600 billion. In addition, forward TAF auctions were conducted in November to extend credit over year-end. The size of these auctions totaled $150 billion each, so that $900 billion of TAF credit will potentially be outstanding over year-end.
For further information regarding TAF auctions, contact our discount window staff at 314-444-8444 or toll-free at 866-666-8316 or visit the Federal Reserve discount window web site.
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