Federal Reserve to offer seven-day term deposits on October 19

October 12, 2017

On Thursday, October 12, 2017, the Federal Reserve issued a press release regarding plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in October. These operations are aimed at ensuring the operational readiness of the TDF and providing eligible institutions with an opportunity to maintain familiarity with term deposit procedures. The TDF test operations are a matter of prudent planning and have no implications for the near-term conduct of monetary policy.