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federalreserve.gov - 10/21/2008

Federal Reserve announces the creation of the Money Market Investor Funding Facility (MMIFF)

— federalreserve.gov — Release Date: October 21, 2008 For release at 9:00 a.m. EDT The Federal Reserve Board on Tuesday... announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide ... (more) Federal Reserve announces the creation of the Money ...

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Federal Reserve

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4

macroblog.typepad.com - 10/29/2008

The Commercial Paper Market and the Fed’s Commercial Paper Funding Facility: Part 1 of a 2-part ...

— macroblog.typepad.com — The current financial crisis is a good reminder of how interconnected our financial system really is. The... financial tsunami has engulfed seemingly unconnected and obscure corners of the credit market, making them front of mind for a general public ... (more) The Commercial Paper Market and the Fed’s Commercial ...

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Commercial Paper

Federal Reserve

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5

federalreserve.gov - 10/22/2008

FRB: Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility

— federalreserve.gov — The Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility is a lending facility that provides funding... to U.S. depository institutions and bank holding companies to finance their purchases of high-quality asset-backed commercial ... (more) FRB: Asset-Backed Commercial Paper Money Market Mutual ...

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Commercial Paper

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Good thing the crisis is over…
self-evident — ... The MMIFF complements the previously announced Commercial Paper Funding Facility (CPFF), which on October 27, 2008 will begin funding purchases of highly rated, U.S.-dollar denominated, three-month, unsecured and asset-backed commercial paper issued by U.S. issuers, as well as the ...

Really Scary Fed Charts: OCT, Now Crazy Scary
[ The Financial Ninja ] — ... 2) Primary Dealer Credit Facility (PDCF) –WTF? –FAQ 3) Term Securities Lending Facility (TSLF) –WTF? –FAQ 4) Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (ABCP MMMF) –WTF? –FAQ 5) Commercial Paper Funding Facility (CPFF) –WTF? –FAQ As you can imagine, all these facilities have made the Fed charts go from just scary, to crazy scary. To be honest, the worst charts are still to come because the month of October was the scariest and craziest to date, with the Fed intervening almost ...

GE Needs Fed Bailout To Finance Operations; Dividend At Risk
Mish's Global Economic Trend Analysis — GE is struggling to get short term financing at a price it wants to pay. So what does GE do? The answer is twofold: 1) Borrow from the Commercial Paper Funding Facility 2) Pretend this is a good thing. Consider this ridiculous headline: GE to Sell CP to Fed to Help Unlock Credit Markets. General Electric Co., the biggest U.S. issuer of commercial paper, plans to use the Federal Reserve’s new short-term funding facility, throwing its weight behind the central bank’s efforts to unlock the credit markets. “This is a ...

NY Times Lending Conspiracy Madness
Mish's Global Economic Trend Analysis — ... Perhaps banks would have been willing to lend to GE, but not at the same rate as the Fed's Commercial Paper Funding Facility. And by competing against the banks it wants to lend, the Fed is guaranteeing it will be the lender of only resort. ...

Non-Agency Mortgage Bonds Collapse
Mish's Global Economic Trend Analysis — ... vast array of lending facilities is causing an unwanted side effect somewhere else. And by competing against the banks it wants to lend, the Fed is guaranteeing it will be the lender of only resort. That is just one reason not to lend. Here are more: Rising unemployment Rising credit card defaults Rising foreclosures Rising bankruptcies Massive overcapacity The TAF, PDCF, TSLF, CPFF, MMIFF, ABCPMMMFLF Banks are supposed to compete against those ...