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On August 11, 2016, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point.
Following are the results of the operation:
TDF Operation ID: F65Total Amount Awarded: $58,594,010,000Number of Participants: 32The awarded deposits will settle on August 11, 2016, and will mature on August 18, 2016.The operation effective rate will apply to all awarded deposits.
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2016 Monetary Policy ... ([url=http://www.federalreserve.gov/newsevents/press/monetary/20160811a.htm]read more)