On August 22, 2019, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point.

Following are the results of the operation:

The awarded deposits will settle on August 22, 2019, and will mature on August 29, 2019. The operation effective rate will apply to all awarded deposits.