*All par amounts in millions of dollars1 For more information please refer to TOP Terms and Conditions.
2 A listing of eligible collateral for each auction type is available under TSLF Terms and Conditions.
3 Dealers are limited to 20% of each auction offering up to 20% of the underlying loan.
4 The offered amount for successor TOP auctions will be revised upwards if the initial TOP auction is undersubscribed, by the amount of undersubscription.
5 Amounts are rounded to the nearest million.
6 "Par Submitted" represents the total par amount of propositions received.
7 "Par Accepted" represents the total amount awarded.
8 "Bid-to-Cover" represents the ratio of "Par Submitted" to the offering amount.
9 "Stop-out Rate" represents the lowest accepted fee rate for which accepted propositions are awarded. The fee can be considered the option premium.