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Article: U.S. Fed to pump 8 billion dollars into financial system
- Article from:
- Xinhua News Agency
- Article date:
- November 26, 2007
CopyrightCopyright 2007 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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U.S. Fed to pump 8 billion dollars into financial system
WASHINGTON, Nov. 26 (Xinhua) -- The U.S. Federal Reserve said
Monday it will pump 8 billion dollars into the nation's financial
system to help ease tight liquidity.
The cash infusion, will be arranged and settle on Wednesday,
November 28, and mature on January 10, said a statement released by
the Federal Reserve Bank of New York.
In response to "heightened pressures" in money markets for
funding through the year-end, the Federal Reserve Bank of New Yorks
will "conduct a series of term repurchase agreements" that will
extend into the new year, said the statement.
The Fed serves as the banking industry's lender of last
resort,providing ...