Fed auctions $46.1 billion in Treasurys to ease credit stresses
WASHINGTON (AP) — The Federal Reserve has auctioned $46.1 billion in safe Treasury securities to investment firms, part of an ongoing effort to ease credit stresses.
The auction — the ninth of its kind — was held Thursday and drew bids less than the $75 billion being made available.
In exchange for the 28-day loan of Treasury securities, bidding firms can put up as collateral more risky investments, including certain shunned mortgage-backed securities and bonds backed by federally guaranteed student loans.
The program began March 27.
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we are printing out money and checks on paper with no back up anymore...
Wow... | May 22, 2008 at 8:29 p.m.
They auctioned "safe market treasuries." How much longer...
How Safe? | May 22, 2008 at 7:35 p.m.
And people wonder why the dollar is losing value.
Earl | May 22, 2008 at 2:54 p.m.
