Fed rolls out new US$540b aid to financial sector
NEW YORK: The US Federal Reserve offered help to troubled money market mutual funds Tuesday, as governments announced fresh aid to struggling banks amid signs of thawing credit in the money markets. In its latest response to recent global financial turmoil, the Federal Reserve announced it was putting up up to US$540 billion for purchases of highly rated short-term debt, including certificates of...
October 22nd, 2008