![]() ![]() To small and medium-sized enterprises and large businesses. Statistical Table A3 also includes historical data on the total TFF FundingĪllowance and Additional Allowance accrued throughout the scheme’s drawdown period from lending Weekly data on total TFF drawings, and will continue to do so until TFF drawings are fully The Reserve Bank publishes in Statistical Table A3 , the Board confirmed that it was not considering a further extension of the TFF. On 3 November 2020, a reduction to the TFF pricing rate was announced. On 1 September 2020, an increase and extension of Support in response to economic developments. The TFF was first announced on 19 March 2020, and was subsequently amended to provide further ![]() The scheme encouraged lending to all businesses, although the incentives were stronger for small and medium-sized enterprises (SMEs). To encourage ADIs to support businesses during a difficult period, ADIs could access additional low-cost funding if they expanded their lending to businesses. It complements the reduction in funding costs from the Reserve Bank's target for three-year Australian Government bond yields to reinforce the benefits to the economy of a lower cash rate, by reducing the funding costs of ADIs and in turn helping to reduce interest rates for borrowers.As the facility provides low-cost fixed-rateįunding for 3 years it will continue to support low borrowing costs until mid 2024. Which time $188 billion of funding was outstanding. The facility closed to new drawdowns on 30 June 2021, at For any operational questions, contact theĪs part of the comprehensive policy response to the effects of the pandemic, the Reserve BankĮstablished the Term Funding Facility (TFF) to offer low-cost three-year funding to authorisedĭeposit-taking institutions (ADIs). The last possible maturity dateįor Term Funding Facility funds is 30 June 2024. The Term Funding Facility closed to new drawdowns of funding on 30 June 2021. Interest Rate Benchmark Reform in Australia. ![]()
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