April 2008

Credit markets regulation: Desperate measures…


March 7

Fed increases the term auction facility (TAF) by $40 billion. TAF was first unveiled as a temporary 28-day borrowing facility for depository banks in December to avoid the stigma of using the Discount Window.

March 11

Fed creates $200 billion new lending facility for primary dealers called term securities lending facility (TSLF). This...


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