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Flash Comment
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US: Fed targets the CP market
Wed, Oct 8 2008, 07:38 GMT
by Peter Possing Andersen, Signe Roed-Frederiksen
Overview: The Federal Reserve has taken a drastic step in order to unfreeze the US commercial paper market. The central bank announced in a statement today that it will create a special purpose vehicle to purchase three-month secured and unsecured commercial papers directly from eligible issuers. This move comes in response to a sharp fall over the past two weeks in the amount of outstanding unsecured CP which has exacerbated the funding difficulties faced particularly by the financial sector, compounding the gridlock in money markets and its negative consequences for overall credit availability (see Flash Comment - Global: Crisis update - what's next? and Research - CP market and money markets gridlocked).
Published on Wed, Oct 8 2008, 07:39 GMT
Archive
- China: Appreciation pressure intensifies
Published On Thu, Nov 12 2009, 16:39 GMT - Baltics: on a deflationary trend
Published On Mon, Nov 9 2009, 13:42 GMT - OECD leading indicators still point to very strong growth
Published On Fri, Nov 6 2009, 13:23 GMT - EMEA markets: Correction time
Published On Tue, Nov 3 2009, 13:17 GMT - EMEA: October PMI slightly disappointing
Published On Mon, Nov 2 2009, 17:22 GMT
Danske Bank
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This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.Related reports
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