Fed auctions to run into March

The Federal Reserve is set to continue its Term Auction Facility operations into March, pledging another $60 billion to alleviate money market tensions.

The Fed said on Friday 29 February that it would conduct two Term Auction Facility operations, in addition to its regular money market interventions, on 10 and 24 March, injecting $30 billion in four-week loans in each.

The Fed introduced the Term Auction Facility, which gives a greater number of banks direct access to Fed financing than regu