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12/30/2015 Printer Version Board of Governors of the Federal Reserve System Press Release Release Date: December 2, 2008 For immediate release In light of continuing strains in financial markets, the Federal Reserve on Tuesday announced the extension through April 30, 2009, of three liquidity facilities: the Primary Dealer Credit Facility (PDCF), the AssetBacked Commercial Paper Money Market Fund Liquidity Facility (AMLF), and the Term Securities Lending Facility (TSLF). These facilities had previously been authorized through January 30, 2009. The extension through April 30 for these facilities is consistent with the term authorized for several other liquidityrelated facilities: the Commercial Paper Funding Facility (CPFF), the Money Market Investor Funding Facility (MMIFF), and the temporary reciprocal currency arrangements (swap lines) with 14 other central banks. The PDCF provides discount window loans to primary dealers. The AMLF provides loans to depository institutions to purchase assetbacked commercial paper from money market mutual funds. Under the TSLF, the Federal Reserve Bank of New York auctions term loans of Treasury securities to primary dealers. The CPFF provides a liquidity backstop to U.S. issuers of commercial paper. The MMIFF supports a privatesector initiative to provide liquidity to U.S. money market investors. 1/1