Temporary reciprocal currency arrangements between the Fed and other central banks also extended
FOMC prepared to purchase longer-term Treasury securities to keep rates low
More institutions eligible to participate
Rates to stay low for the foreseeable future, economists say
The U.S. Federal Reserve Board announced Tuesday that it is extending several of its new liquidity initiatives through the spring.Three of the Fed’s new liquidity facilities: the Primary Dealer Credit Facility, the Asset-Backed Commercial Paper Money Market Fund Liquidity Facility, and the Term Securities Lending Facility; will now operate until April 30, 2009. These facilities […]
The Federal Reserve Bank of New York’s board of directors has begun its search for a new chief.The board announced that it has created a search committee in light of president-elect Barack Obama’s intention to nominate New York Fed president Timothy Geithner as his secretary of the Treasury. The search committee consists of Stephen Friedman, […]
The latest initiative from the U.S. Federal Reserve Board, which targets private sector borrowing costs, should help alleviate the credit crunch, BCA Research says.Earlier this week the Fed announced the creation of the Term Asset-Backed Securities Loan Facility, which will lend up to US$200 billion to holders of AAA-rated securities backed by newly and recently […]
New facility targets consumer lending
U.S. economy to contract
Lee’s actions misvalued natural gas options