Fed auctions $50 billion more to cash-strapped banks:
10:14 AM ET, Apr 08, 2008 - By Sue Chang
SAN FRANCISCO (MarketWatch) -- The Federal Reserve on Tuesday auctioned another $50 billion in funds to cash-strapped banks at an interest rate of 2.82%, the Associated Press reported. It is the ninth auction since December through which the Fed has injected $310 billion in short-term loans into the banking system, the news agency said. The auction, held on Monday, attracted 91 bids seeking a total of $91.6 billion, the Associated Press said
