Given that the actual annual increase in loans extended by financial institutions amounted to 15 trillion yen, it is possible that this facility could invite more than that amount. The Bank designated this  14  BIS central bankers’ speeches  facility, together with the aforementioned growth-supporting funding facility, the Loan Support Program. Both facilities will be maintained until the end of March 2014.
3 For example, since August 2007 we have lowered the spread between the discount rate and the federal funds rate target from 100 basis points to 25 basis points; increased the term of discount window loans from overnight to 90 days; created the Term Auction Facility, which auctions credit to depository institutions for terms up to three months; put into place the Term Securities Lending Facility, which allows primary dealers to borrow Treasury securities from the Fed against less-liquid collateral; and initiated the Primary Dealer Credit Facility as a source of liquidity for those firms, among other actions.