Term Investment Options (TIO)

The Term Investment Option (TIO) is an investment opportunity offered to Treasury Tax and Loan (TT&L) participants. Treasury will auction excess operating funds to participants for a fixed term and rate determined through a competitive bidding process.

Treasury generally follows the following timeline:

Day One: Update Notification

E-mail with general intent notice sent to participants one day prior to official announcement.

Day Two: Announcement

E-mail sent to participants containing the offering amount, length of term and acceptable collateral (usually 9:30am ET).

Day Two (Continued): Auction

Participants place bids in TERMLink® by cutoff time (usually 11:00am ET). Results announced on TERMLink within 10 to 20 minutes.

Day Three: Settlement

Awardees pledge collateral to TIO account by 12:00pm ET. Awarded funds are received by 2:00pm ET.

TERMLink is Treasury's official Internet-based application for institutions participating in TIO auctions.

Enrolling in TIO auction is simple, and participation is open to any financially sound TT&L depositary. Call the Term Investment Hotline at (800) 333-0870 between 8 a.m. and 6 p.m. ET for more detailed instructions and agreements.

Treasury’s Financial Management Service provides additional information about the Term Investment Option (Off-site Link) including:

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