US central bank auctions $25billion
Published August 13th, 2008
The US Federal Reserve has auctioned $25billion in loans to banks in its latest bid to boost credit markets.
The results of Monday’s auction were revealed on Tuesday and showed the auction was oversubscribed with 64 bidders seeking $54.8bn from the bank.
This latest auction involved lending firms money for 84 days - rather than the 25 days of previous auctions.
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