Pioneer Press Fri, 07 Mar 2008 19:41:52 -0700
National And International Report / Fed to hold bigger auctions to help ease credit crunch
The Federal Reserve is taking bigger steps to ease the nation's credit crisis, including increasing the amount of loans it plans to make available to banks this month to $100 billion. The Federal Reserve announced Friday that it will boost the size of auctions planned for March 10 and March 24 to $50 billion each. That is up from the $30 billion limits it had previously announced. The auctions serve as short-term loans to get banks the cash they need to keep lending to their customers.
[[keywords: Housing;Metro;]]
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