The Federal Reserve on Thursday said it is further scaling back two emergency lending programs as the U.S. economy improves.The Fed will reduce the amount of money available to banks in short-term loans under a program called the Term Auction Facility.
For 84-day loans, the Fed will provide a total of $50 billion in loans in October, and $25 billion each in November and December. For 28-day loans, the Fed will continue to make $75 billion available monthly through January.
The Fed also is cutting back on a program where investment firms can temporarily swap risky securities for super-safe Treasury securities.
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090924/FREE/909249991
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For 84-day loans, the Fed will provide a total of $50 billion in loans in October, and $25 billion each in November and December. For 28-day loans, the Fed will continue to make $75 billion available monthly through January.
The Fed also is cutting back on a program where investment firms can temporarily swap risky securities for super-safe Treasury securities.
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090924/FREE/909249991
Shared via AddThis
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