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bob3

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bob3

Re: None

Tuesday, 05/20/2008 12:07:16 PM

Tuesday, May 20, 2008 12:07:16 PM

Post# of 76351
Fed receives 75 bidders for $75 bln TAF credit auction
10:00 AM ET, May 20, 2008 - By Greg Robb
WASHINGTON (MarketWatch) -

The Federal Reserve said Tuesday it received 75 bidders for its Monday auction of $75 billion in 28-day credit. The loans were being offered as part of a special term auction facility to help alleviate liquidity problems in global financial markets stemming from losses due to risk mortgage-based securities. Total propositions submitted reached $84.4 billion, or a bid/cover ratio of 1.13. The awarded loans will settle on Thursday.
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