The Federal Reserve awarded $334.714 billion 213 billion pounds of eight-day term deposits to banks, a record amount, at a test auction held on Monday, it said in a statement on Tuesday. The U.S. central bank allotted them to 90 banks which will receive an interest rate of 0.29 percent. This was higher than the $316.020 billion in seven-day deposits awarded a week earlier to 85 banks which received an interest rate of 0.28 percent. [.01% of $300b is $30m at an annual rate, or about $1 m for the 8 days.] The Fed has ramped up testing of its term deposit facility after the 2008 financial crisis to help policymakers drain cash from the banking system when they decide to tighten monetary policy.On Sept. 4, the Fed said it plans to conduct a series of eight seven-day TDF operations starting in October. These tests will have an early withdrawal feature in which banks can enter the TDF and pull the money out before the maturity date if they pay a charge.
Blogs I Follow
- I guess Trump team is consistent about one thing: They really would rather have coal than advanced 21st century batteries
- Great trenchant essay on reading from Hisham Matar
- Can students record me in class?
- Awe-inspiring study from Ancestry.com
- Leading a non-profit that supports village libraries is a lot of work!
- Great article about one of the FAVL donors who helped make a library happen in Burkina Faso
- AYA Afrika Foundation helps continue after school reading program in libraries in Ghana
- New motor bike for FAVL/CESRUD Ghana
- Visite guidée à la bibliothèque communautaire de Dablo
- Les usagers illettrés à la Bibliothèque de Dimikuy
- La mairie de Pensa prend ses responsabilités
- What is going on in FAVL Burkina Faso?
- Les bibliothécaires en séance pratique d'origami
- Le coordonnateur national à la rencontre du staff régional
- FAVL/CESRUD Ghana libraries expand their reach to surrounding schools
- Rapport du mois de janvier et février 2017 de la bibliothèque de Sebba
- Rapports des activités du mois de Janvier et Février 2017 de la bibliothèque de Bougounam
- Visite d'un ancien lecteur au bureau de FAVL Ouaga
- Rencontre FAVL et les autorités de Sabcé
- Encadrement du bibliothécaire de Pissila