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bob3

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bob3

Re: None

Tuesday, 05/06/2008 10:35:46 AM

Tuesday, May 06, 2008 10:35:46 AM

Post# of 76351
Fed receives 71 bidders for $75 bln TAF credit auction
10:00 AM ET, May 06, 2008 - By Greg Robb
WASHINGTON (MarketWatch) -

The Federal Reserve on Tuesday said it received 71 bidders for its Monday auction of $75 billion in 28-day credit. 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-based securities. Total propositions submitted reached $96.6 billion, or a bid/cover ratio of 1.29. The awarded loans will settle on Thursday.
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