If feedback is to be conducted effectively, then there needs to be clarity about what is involved and what is necessary for teachers to be able to undertake it well. While much attention has recently been devoted to student feedback literacy, less has been given to what is required of teaching staff in their various roles in feedback processes. This paper seeks to elucidate teacher feedback literacy through an analysis of the accounts of those who do feedback well. An inductive analysis was undertaken of conversations about feedback with 62 university teachers from five Australian universities using a dataset of transcripts of interviews and focus groups from two earlier research studies. Through an iterative process a teacher feedback literacy competency framework was developed which represents the competencies required of university teachers able to design and enact effective feedback processes. The paper discusses the different competencies required of those with different levels of responsibility, from overall course design to commenting on students' work. It concludes by considering implications for the professional development of university teachers in the area of feedback.