The two operations, each of which will pledge $30 billion in loans with a 28-day maturity, will take place on 11 and 25 February and are designed to alleviate liquidity tensions.
In a bid to encourage smaller institutions to participate in the operations, the Fed has lowered the minimum bid rate to $5 billion from $10 billion in previous auctions.
- Making the rules and breaking the mould (Allan Meltzer: 1928–2017)
- BoE economists criticise DSGE inflation modelling
- Indonesian deputy Perry on revolutionising monetary and financial policy
- Commission should have power to order CCPs to relocate to EU – Cœuré
- South African governor rejects calls to change mandate