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Frequently Asked Questions about the Financial Crisis

How has the financial crisis affected the Fed’s monetary policy?

The financial crisis has interfered with the Fed's ability to operate a conventional monetary policy. Lender-of-last-resort measures have been a primary focus. The FOMC has reduced its target for t...
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With the federal funds rate near zero, is monetary policy still relevant?

Monetary policy remains potent. Even with the fed funds rate at zero, the Fed can continue to influence financial markets and the economy through open market operations and various lending programs...
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Recent News

The U.S. Department of the Treasury announces an Auto Supplier Support Program that will provide up to $5 billion in financing to the automotive industry. The Supplier Support Program will provide selected suppliers with financial protection on monies ("receivables") they are owed by domestic auto companies and the opportunity to access immediate liquidity against those obligations. Receivables created with respect to goods shipped after March 19, 2009, will be eligible for the program. Any domestic auto company is eligible to participate in the program. Any U.S.-based supplier that ships to a participating auto manufacturer on qualifying commercial terms may be eligible to participate in the program.

The Federal Reserve Board announces an expansion of the eligible collateral for loans extended by the Term Asset-Backed Securities Loan Facility (TALF) to include asset-backed securities backed by mortgage servicing advances, loans or leases related to business equipment, leases of vehicle fleets, and floorplan loans. The new categories of collateral will be eligible for the April TALF funding.

The Federal Reserve Bank of New York releases the initial results of the first round of loan requests for funding from the Term Asset-Backed Securities Loan Facility (TALF). The amount of TALF loans requested at the March 17-19 operation was $4.7 billion.

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