In an effort to provide liquidity to cash-strapped financial institutions, the Federal Reserve will lend up to $200 billion of treasury securities to bond dealers in exchange for collateral such as mortgage-backed securities.The securities will be made available through an auction process. Auctions will be held on a weekly basis, beginning on March 27.
The announcement pushed markets to their biggest one-day percentage gain since 2003.
2011 Flying Heart Cellars Red Wine - $5
13 years ago
No comments:
Post a Comment