Fed to detail emergency assistance during crunch

Discussion in 'Wall St. News' started by ASusilovic, Sep 29, 2010.

  1. WASHINGTON (MarketWatch) -- The Federal Reserve will release "detailed information" on the a range of credit and liquidity programs the central bank employed between Dec. 1, 2007 and July 20, 2010, according to testimony that Chairman Ben Bernanke will deliver on Thursday and released by the central bank on Wednesday. "This information will include the names of counterparties, the date and dollar value of individual transactions, the terms of repayment, and other relevant information. On an ongoing basis, subject to lags specified by the Congress to protect the efficacy of the programs, the Federal Reserve also will routinely provide information regarding the identities of counterparties, amounts financed or purchased and collateral pledged for transactions under the discount window, open market operations, and emergency lending facilities," Bernanke will say, according to the prepared remarks.