Fed auctioning $50 billion in 28-day-credit to banks
By Ruth Mantell
Last update: 10:01 a.m. EDT April 21, 2008Print RSS Enable Live Quotes
WASHINGTON (MarketWatch) -- Looking to alleviate liquidity problems in global financial markets, the Federal Reserve on Monday is offering $50 billion in 28-day-credit through its term auction facility. Monday's auction is the second of two special auctions in April that aim to support banks. Notification to winners is Tuesday, and settlement is on Thursday. In the prior auction, there were 79 bidders, with a total of $92 billion in proposals.
