Tuesday, October 21, 2008

More Federal Reserve alphabet soup

Now we have the creation of the MMIFF (Money Market Investor Financing Facility) with eligible PSPV's and ABCP's at least rated by NRSRO's so the FBRNY will loan on it. Now we have the CPFF (Commercial Paper Funding Facility), as well as the AMLF (Asset Backed Commercial Paper Money Market Mutual Fund Liquidity Facility)..ah what the heck..read it all here from the Federal Reserve's website:

Another $540 billion program by the Federal Reserve, just equals more alphabet soup!

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