Wednesday, Aug 13, 2008
Fed
BBC: US central bank in $25bn auction
The US Federal Reserve has auctioned $25bn (£13.1bn) in loans to banks in its latest bid to boost credit markets.
The results of Monday's auction were revealed on Tuesday and showed the auction was oversubscribed with 64 bidders seeking $54.8bn from the bank.
This latest auction involved lending firms money for 84 days - rather than the 25 days of previous auctions.
Posted by jason @ 09:59 AM (231 views) Add Comment
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