Global central banks set regular dollar auctions: Fed

Saturday, 10 October, 2008

Financial leaders support bailout bill

Global central banks have set a schedule for dollar liquidity auctions that will take place every two weeks through the end of the year, the Federal Reserve announced Tuesday. These auctions include 28-day and 84-day loans and "forward auctions" of cash loans designed to bridge over the year-end. As part of the coordination, the Fed announced its schedule for cash auctions. Yesterday, the Fed said it planned to double the size of its lending to the banking system to a possible $900 billion at the end of the year.

Source: http://www.marketwatch.com