Fed Watch
Federal Reserve Recent Activity:
May 5, 2008 — Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility
May 2, 2008 — Federal Reserve, European Central Bank, and Swiss National Bank announce an expansion of liquidity measures
April 22, 2008 — Fed auctions $50 billion in 28-day credit
April 7, 2008 — Fed auctions $50 billion in 28-day credit
March 24, 2008 — Fed auctions$50 billion in 28-day credit
March 18, 2008 — Reduction in the primary credit rate from 3-1/4 percent to 2-1/2 percent.
March 16, 2008 — Reduction in the primary credit rate from 3-1/2 percent to 3-1/4 percent. Federal reserve unanimously authorizes Federal reserve bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in the securitization markets. Interest rate on this financing will be equal to the primary credit rate. Fed Board increases maturity of credit loans from 30 days to 90 days. The Board also approved the financing arrangement announced by JPMorgan Chase & Co. and The Bear Stearns Companies Inc.
March 10, 2008 — Fed auctions $50 billion in 28 day credit. Previous to this auction the Fed had only auctioned $30 billion in 28 day credit.