What should an Authorized Submitter do if he/she cannot get through the discount window hotline before the Closing Time for submission of Bids?
If phone lines are congested as the Closing Time for Bid submission approaches, an Authorized Submitter can leave a message on the Reserve Bank’s discount window telephone hotline voicemail identifying clearly his/her name, the name of the institution on whose behalf (s)he is calling, a contact phone number and the complete Bid information. After leaving such a voice message, the Authorized Submitter should continue calling the discount window telephone hotline until successfully reaching a Local Reserve Bank’s discount window staff. Note that the burden is on the Participant to try to reach and submit a Bid in a live phone call with Local Reserve Bank discount window staff, and that those Participants that require two members of their own staff to request an Advance under OC-10 would be expected to observe the same standard for submissions of Bids in the TAF. Bids left on a voice mail will not be deemed submitted unless confirmed in a telephone call with a Reserve Bank discount window
