Full text of Board of Governors of the Federal Reserve System : Documents Relating to the Financial Crisis of 2007-2009 : Federal Reserve Intends to Continue Term TAF Auctions as Necessary, December 21, 2007

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Press Release

Release Date: December 21, 2007
For immediate release
The Federal Reserve intends to conduct biweekly Term Auction Facility (TAF) auctions for as long
as necessary to address elevated pressures in short­term funding markets. The Board of Governors
will announce the sizes of the January 14 and January 28 TAF auctions at noon on January 4.