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Term Deposit Facility Resource Center
The Term Deposit Facility is a program through which the Federal Reserve Banks offer interest-bearing term deposits to eligible institutions. A term deposit is a deposit with a specific maturity date. The Term Deposit Facility was established to facilitate the conduct of monetary policy by providing a tool that may be used to manage the aggregate quantity of reserve balances held by depository institutions. An increase in term deposits outstanding drains reserve balances because funds to pay for them are removed from the accounts of participating institutions for the life of the term deposit.
Term Deposit Facility Auctions
The Federal Reserve Board issued a press release dated September 8, 2010, that authorizes ongoing small-value offerings of term deposits under the Term Deposit Facility (TDF).
The Federal Reserve Board issued a press release dated May 28, 2010, that announced dates of the first three Term Deposit Facility auctions. Terms of the first offering were announced on June 11, 2010.
If you would like to be made aware of upcoming Term Deposit Facility auctions and results, please complete the E-mail Notification form . Please note that credentialed Term Deposit Facility participants will automatically receive all e-mail notifications.
A history of closed auctions is available in the Term Deposit Facility Archive.
| Auction Announcements | Auction Results |
|---|---|
| January 09, 2012 ID A22 | January 09, 2012 ID A22 |
Term Deposit Facility Access
Click the button below to access the Term Deposit Facility application.
Term Deposit Facility Setup
Any institution eligible to receive interest on balances maintained at the Federal Reserve Banks can participate in the Term Deposit Facility upon the approval of its Reserve Bank. Follow the setup steps to become a Term Deposit Facility participant. Please note the typical time from submission of the necessary forms and agreement to being ready to participate is between 7 and 14 business days.
The following materials have been prepared to help familarize you with the Term Deposit Facility:
- Auction Timeline | Accessible Version
- Step-by-Step Guide | Accessible Version
- Term Deposit Facility Overview
More Information
The Federal Reserve Board issued a press release dated December 28, 2009, and submitted for public comment a Federal Register notice dated December 31, 2009. The Federal Reserve Board issued a second press release dated April 30, 2010, and issued Board approval in a Federal Register notice dated May 5, 2010. The Federal Reserve Board issued a third press release dated May 10, 2010.
Questions?
Please contact your Term Deposit Facility District Contact with questions about the Term Deposit Facility. For assistance with setting up participation in the Term Deposit Facility, contact the Federal Reserve’s Customer Contact Center.