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What are the differences between the SOMA Securities Lending program and the TSLF?

April 26, 2017differences lending program securities Soma tslf

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What are the differences between the SOMA Securities Lending program and the TSLF?

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The SOMA Securities Lending program offers specific Treasury securities held by SOMA for loan against Treasury GC on an overnight basis. Dealers bid competitively in a multiple-price auction held every day at noon. The TSLF will offer Treasury GC held by SOMA for a 28-day term. Dealers will bid competitively in single-price auctions held weekly and borrowers will pledge program-eligible collateral.