New York Fed Announces Terms for June TSLF Options Program

May 27, 2009

General

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

 
June 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
  June 3, 2009
  02:00 p.m. ET
  02:30 p.m. ET
 
 
Option exercise date
June 24, 2009
 
 
Loan settlement date
June 25, 2009
 
 
Loan term
7-day
 
 
Loan maturity date
July 2, 2009