Stocks Stabilize as Fed Backs Commercial Paper

Schachter, Ken
October 2008
Red Herring;10/7/2008, p7
Trade Publication
The article reports on the announcement by Federal Reserve Chairman Ben Bernanke that the agency is creating the Commercial Paper Funding Facility that would allow it to buy short-term commercial paper and provide a liquidity backstop for corporate users. According to the agency, the commercial paper market has been under considerable strain as money market mutual funds and other investors, themselves often facing liquidity pressures, have become increasingly reluctant to purchase commercial paper, especially at longer-dated maturities.


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