"Federal Reserve Board to End Bank Term Funding Program on March 11"

The Federal Reserve Board has announced that the Bank Term Funding Program (BTFP) will stop issuing new loans as scheduled on March 11, after having provided support for the economy and banking system during a period of stress last spring. The program will continue to make loans until that date, and eligible institutions will still have access to the discount window for liquidity needs. The interest rate for new BTFP loans has been adjusted to ensure support in the current interest rate environment, effective immediately.