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  Home > Diane Publishing Books >

Federal Reserveís Commercial Paper Funding Facility
Federal Reserve’s Commercial Paper Funding Facilit

 
Our Price: $25.00
By Tobias Adrian (au); Karin Kimbrough (au); Dina Marchioni (au)
Year: 2010
Pages: 42
Binding Paperback

Product Code: 1437929303

Description
 
The Federal Reserve (FR) created the Commercial Paper Funding Facility (CPFF) in the midst of severe disruptions in money markets following the bankruptcy of Lehman Bros. on Sept. 15, 2008. The CPFF finances the purchase of highly rated unsecured and asset-backed commercial paper from eligible issuers via primary dealers. The facility is a liquidity backstop to U.S. issuers of commercial paper, and its creation was part of a range of policy actions undertaken by the FR to provide liquidity to the financial system. This report documents aspects of the financial crisis relevant to the creation of the CPFF, reviews the operation of the CPFF, discusses use of the facility, and draws conclusions for lender-of-last-resort facilities. Charts and tables.

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