Term Facility
This program was first developed on 2007 in the month of December. These auctions permit the participants to attain cheap funds. It is defined as the program that Federal Reserve of US implements for creating liquidity in the temporary funding market of current global currency crash. Under this particular program, Fed along with several other banks, auctioned collateralized loans to those banks that had financial standing. With the help of TAF, the financial institution can get loans having terms of 28 day and 35 day with the help of periodic auctions.