Central Banking

High demand for longer-term Fed funding

The results of the Federal Reserve's first Term Auction Facility (TAF) operation to offer 84-day credit highlight the banking sector's demand for longer-term financing.

The results of the Tuesday auction show that banks paid a minimum of 2.754% for the 84-day loans, more than 75 basis points higher than the federal funds rate and less than five basis points below the London Interbank Offered Rate (Libor) for three-month interbank dollar loan of 2.80375%. The bid-to-cover ratio, which records the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.