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Are primary dealers required to bid? Can other market participants bid in the operation?

April 26, 2017bid Dealers market operation participants primary

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Are primary dealers required to bid? Can other market participants bid in the operation?

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Only primary dealers are eligible counterparties for the TSLF. Dealer participation is entirely voluntary. The New York Fed does not evaluate dealer performance based on participation in the TSLF. No other market participants are eligible.