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To: Les H who wrote (85161)	8/14/2007 12:00:04 PM
From: Les H	Respond to of 306849

Fed adds no liquidity to market this morning, NY Fed says By Rex Nutting Last Update: 10:08 AM ET Aug 14, 2007 WASHINGTON (MarketWatch) -- The Federal Reserve didn't inject any liquidity into the financial system during its normal 9:30 a.m. open market operation, the New York Federal Reserve said Tuesday. It was the first workday since May 11 that the Fed didn't conduct any temporary repurchases of Treasurys from banks, although the Fed said it stood ready to lend money later in the day if needed. Last Thursday and Friday, the Fed lent banks an extraordinary $62 billion in overnight funds to maintain a smooth money market in the face of a credit squeeze due to growing problems with subprime mortgages. All of that extra liquidity has now been withdrawn from the markets. End of Story