Fed bumps up Term Auction Facility to $75 billion

05/5/2008 | Financial Week

Starting today, the Federal Reserve has boosted the amount offered in Term Auction Facility auctions from $50 billion to $75 billion in an effort to ease the credit markets. The central bank said it is also raising the temporary currency swap lines with the European Central Bank and the Swiss National Bank. "In view of the persistent liquidity pressures in some term funding markets, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing an expansion of their liquidity measures," regulators said.

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