Fed again takes steps to boost market liquidity
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Tue, 11 Mar 2008 12:54:02 GMT |
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WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday that with pressure mounting again in financial markets, it was expanding a securities lending program and will accept a broader range of securities as collateral."Under this new Term Sercurities Lending Facility (TSLF), the Federal Reserve will lend up to $200 billion of Treasury securities to primary dealers secured for a term of 28 days...by a pledge of other securities, including federal agency debt, federal agency residential-mortgage-backed securiies (MBS), and non-agency AAA/Aaa-rated private-label residential MBS," the Fed said in a statement.(Reporting by Glenn Somerville, Editing by Chizu Nomiyama) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
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