June 22, 2010 at 19:42 PM EDT
NYFed
Good find! I recommended this years ago when Karim first introduced me to his Treasury contacts. It moved forward and was passed around for discussion, but the dealers quashed it. An unlimited lending program could replace much of the generic libor swap market. Wish they would revisit it. Why Is the U.S. Treasury Contemplating Becoming a Lender of Last Resort [...]
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