Bank Term Funding Program

The Bank Term Funding Program (BTFP), announced by the Federal Reserve Board in March 2023, offers loans of up to one year in length to banks, savings associations, credit unions and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities and other qualifying assets as collateral. These assets will be valued at par.

In order to obtain an advance under the BTFP, eligible borrowers must submit a request using a standard template email to its lending Reserve Bank at the time it requests its first advance under the Program from an individual currently designated on the Operating Circular 10: Lending authorization list. 

• Learn more about the program
• WATCH the March 15 Webinar: The Bank Term Funding Program—Overview and Important Program Details for Depository Institutions 
  Register for access