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Thursday, 5 February 2015

The Federal Reserve initially authorized up to five "small-value offerings are designed to ensure the effectiveness of TDF.

http://en.wikipedia.org/wiki/Federal_Reserve_System#cite_note-91

The Federal Reserve initially authorized up to five "small-value offerings are designed to ensure the effectiveness of TDF operations and to provide eligible institutions with an opportunity to gain familiarity with term deposit procedures."After three of the offering auctions were successfully completed, it was announced that small-value auctions would continue on an ongoing basis.

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