Fed to offer further funds, pay interest

The Federal Reserve on Monday announced further measures to shore up ailing money markets, pledging to inject $600 billion in longer-term funds.

The Fed said that it would inject $150 billion in both of its forthcoming 28-day and 84 day Term Auction Facility (TAF) operations. It will also up the amount offered in its two additional November auctions, announced last week, from $75 billion to $150 billion.

The US central bank will also begin to pay interest on banks' reserves held in the Fed's

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.