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
Loan maturity date
April 3, 2009
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