Fed Extends Emergency Money Fund Program
June 25, 2009
The Federal Reserve Thursday extended a number of emergency funding facilities from the end of October until Feb. 1, including an asset-backed facility for money funds, the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility.
Other extended programs are the Commercial Paper Funding Facility, the Primary Dealer Credit Facility and the Term Securities Lending Facility. Along with this, the Fed is extending swap lines with other central banks through Feb. 1, citing the continued strain on many capital markets.
"Conditions in financial markets have improved in recent months, but market functioning in many areas remains impaired and seems likely to be strained for some time," the Fed said in a statement.
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