Bankowość centralna · 27/05/1999

Federal Reserve Proposes New Credit Program to Address Liquidity Needs During Century Date Change

The Federal Reserve Board is proposing to amend its Regulation A to establish a special lending program that allows Federal Reserve Banks to extend credit at a rate above the Federal Open Market Committee's targeted federal funds rate to eligible institutions during the period when the century date changes, without the need for borrowers to seek credit elsewhere first or limiting the use of funds, and with loans that can be outstanding for a considerable period.