Federal Reserve?s first credit auction a hit

The auction, which offered $US20 billion ($A23.3 billion) in 28-day loans at a reduced rate of 4.65 per cent, attracted bids from 93 financial institutions the Federal Reserve revealed.

Coordinated with central banks around the world to address liquidity concerns, the auction is the first in a series of four.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 21 December 2007