T-bill Auctions to Fund the Fed (Treasury)

The T-bill Auctions to Fund the Fed

Funding agency and aid type
The funding agency is the U.S. Treasury, held at the FRBNY.

Auction sale.

Background
Via Prins: "“The program will consist of a series of Treasury bill auctions, separate from Treasury’s current borrowing program, with the proceeds from these auctions to be maintained in an account at the Federal Reserve Bank of New York. Funds in this account serve to drain reserves from the banking system, and will therefore offset the reserve impact of recent Federal Reserve lending and liquidity initiatives [facilities].”"

Related SourceWatch articles

 * SIGTARP Quarterly Report to Congress July 21, 2009
 * Troubled Asset Relief Program

External resources

 * FRBNY factsheet
 * Fed data