Commercial-paper issuance declines despite Fed's support

11/6/2008 | CNNMoney

The Federal Reserve last week started buying commercial paper with three-month maturity, but the effort is not restoring liquidity to the market of short-term corporate debt. Early indications suggest the central bank's program has not persuaded investors to start buying commercial paper again. One possible reason is that the Fed offers much lower borrowing rates than the private market.

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