Fed raises commercial paper purchase rates

NEW YORK Nov 3 (Reuters) - The Federal Reserve on Monday raised the interest rates they will charge to buy top-rated, three-month commercial paper to provide liquidity for this corporate debt sector, according to the New York Fed.

The Fed said it will charge 1.61 percent for unsecured commercial paper on Monday, up from 1.60 percent on Friday, the New York Fed said on its Web site.

It will charge 3.61 percent for asset-backed commercial paper on Monday, up from 3.60 percent on Friday, the New York Fed said on its Web site. (Reporting by John Parry; Editing by Theodore d'Afflisio)