Fed to undertake $25 bln TSLF auction on Thurs
NEW YORK, April 29 |
NEW YORK, April 29 (Reuters) - The U.S. Federal Reserve will undertake a 28-day $25 billion Term Securities Lending Facility auction on Thursday, the New York Fed said on its website on Wednesday.
The auction will start at 2 p.m. (1800 GMT) and finish at 2:30 p.m., the New York Fed said.
Dealers can lend out the Treasuries in exchange for short-term cash loans in the U.S. repurchase market to help shore up balance sheets eroded by the global credit crisis. For more details click here (Editing by Kenneth Barry)
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