On September 8th, the Federal Reserve Board announced that it has authorized ongoing small-value offerings of term deposits under the Term Deposit Facility. These small-value offerings are designed to ensure the operational readiness of the TDF and to provide eligible institutions with an opportunity to gain familiarity with term deposit procedures. The development of the TDF and the ongoing small-value TDF offerings are a matter of prudent planning and have no implications for the near-term conduct of monetary policy. Federal Reserve Board Press Release.