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Fed to Auction $75 Billion in Securities
Thursday March 20, 2:50 pm ET
By Jeannine Aversa, AP Economics Writer
Fed Says It Will Auction $75 Billion in Treasury Securities Next Week


WASHINGTON (AP) -- The Federal Reserve, seeking to ease a painful credit crisis, will be making $75 billion of much-in-demand Treasury securities available to big investments firms next week.
Investment houses will get an opportunity to bid on a slice of the securities at a Federal Reserve auction next Thursday. The new lending program was announced by the Fed last week. It will allow investment firms to borrow up to $200 billion in super-safe Treasury securities by using some of their more risky investments as collateral. The first of the weekly auctions will be next Thursday.

http://biz.yahoo.com/ap/080320/fed_credit_crisis.html?.v=2