The Fed will monitor the price and creditworthiness of the collateral every day and could demand alternative collateral at any time. 28 days.
The Fed will conduct weekly auctions, switching back and forth on the type of securities accepted. The first auction on March 27 will accept federal or agency securities, the second on April 3 will take private mortgages.
Study up on DERIVATIVES and watch for the media to throw out the more US jobs spin through the media.