The U.S. Federal Reserve is extending special liquidity programs that were set to expire at the end of April until October 30 instead, citing “continuing substantial strains” in many financial markets.
The Fed announced Tuesday that its board of governors approved the extension of the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Money Market Investor Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility.
In addition, to address continued pressures in global U.S. dollar funding markets, the temporary reciprocal currency arrangements between the Fed and other central banks, including the Bank of Canada, have been extended to October 30. This extension also applies to the swap lines between the Fed and the central banks of Australia, Brasil, Denmark, England, Korea, Mexico, New Zealand, Norway, Singapore, Sweden, Switzerland, and the European Central Bank.
Fed extends special liquidity programs
Temporary reciprocal currency arrangements between the Fed and other central banks also extended
- By: James Langton
- February 3, 2009 February 3, 2009
- 10:50