Federal Reserve Conducts $25 Billion TSLF Auction

The Federal Reserve conducted a second auction under its Term Security Lending Facility (TSLF) Thursday, auctioning $25 billion in short-term securities, though interest in the auction exceeded the offering with almost $47 billion in submissions. A total of $46.9 billion in bids was submitted for a bid-to-cover ratio of 1.88. The ...