» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 123 | NO. 43 | Monday, March 3, 2008

Fed Announces March Auctions to Combat Credit Crisis

By MARTIN CRUTSINGER | AP Economics Writer

Print | Front Page | Email this story | Comments ()

WASHINGTON (AP) - The Federal Reserve says it will auction another $60 billion in March as it continues to combat the effects of a severe credit crisis.

The central bank said Friday it will conduct two auctions in the coming month and will make $30 billion available to cash-strapped banks at each auction. One will be held on March 10, the second on March 24.

The central bank began the new auctions in December in hopes that the increased supply of cash would prompt banks to keep lending and combat the adverse effects from a severe credit squeeze.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 238 15,862
MORTGAGES 122 284 18,332
FORECLOSURE NOTICES 13 34 2,439
BUILDING PERMITS 137 452 32,966
BANKRUPTCIES 62 178 10,191
BUSINESS LICENSES 23 73 5,251
UTILITY CONNECTIONS 28 92 6,240
MARRIAGE LICENSES 13 63 3,476

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.