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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 687.01-0.1%Dec 30 4:00 PM EST
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To: Fun-da-Mental#1 who wrote (34661)12/3/1999 5:29:00 PM
From: Les H  Read Replies (1) of 99985
 
Banks, mutual funds, brokerages, etc. could all face heavier than usual redemptions in the feared Y2K crunch. The need for short-term funds could raise the cost of borrowing money. The funds would allow the insitutions to avoid selling holdings to raise cash. The Fed is providing the options to provide the firms access to additional funds and to limit the interest rate (which could spike in a crunch). I believe it's about 40-70 billion in cash and options for 450-550 billion more in very short-term loans.
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