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Strategies & Market Trends : News Links and Chart Links

SPXL 220.09

-3.3%

Dec 12 4:00 PM EST

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From: Les H	9/24/2009 10:37:17 AM
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The Federal Reserve is further scaling back two emergency lending programs as the economy improves. The Fed will reduce the amount of money available to banks in short-term loans under a program called the Term Auction Facility. For 84-day loans, the Fed will provide a total of $50 billion in loans in October, and $25 billion each in November and December. For 28-day loans, the Fed will continue to make $75 billion available monthly through January. The Fed also is cutting back on a program where investment firms can temporarily swap risky securities for super-safe Treasury securities. The Fed says $50 billion worth of Treasury securities will be made available for October, down from the current $75 billion. Operations in November and December will be trimmed to $25 billion each. townhall.com

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