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Term Securities Lending Facility

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The Term Securities Lending Facility (TSLF) was a 28-day facility managed by the United States Federal Reserve offering Treasury general collateral (GC) (i.e., Treasury bills, notes, bonds and inflation-indexed securities) to the primary dealers in exchange for other program-eligible collateral. It was created to combat the liquidity crisis in American banks as a result of the subprime mortgage crisis and the 2008 financial crisis. The facility was open from March 2008 through January 2010.