U.S. Federal Reserve to auction $30 billion at short-term auctions this month
Published January 11th, 2008
The U.S. Federal Reserve will auction $30 billion in short-term credits to banks at each of the two special auctions in January, the Fed announced Friday. The loans are being offered as part of a special term auction facility to help alleviate liquidity problems in global financial markets stemming from losses due to risky mortgage-backed securities. As in the December auctions, banks will bid on the 28-day credits, with all winning bidders paying the same interest rate. The auctions will take place on Jan. 14 and 30
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