Wednesday, April 23, 2008

Fed to auction $75B to ease credit woes

"The Federal Reserve announced Wednesday it will auction an additional $75 billion in super-safe Treasury securities to big investment firms, part of an ongoing effort to help strained credit markets.

The auction - the fifth of its kind - will be held Thursday.

In exchange for the 28-day loan of Treasury securities, bidding firms can put up more risky investments, including certain shunned mortgage-backed securities, as collateral."

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Fed to auction $75B to ease credit woes

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