• Federal Reserve to Support Commercial Paper Market and Broaden Role as Lender of Last Resort
  • October 25, 2008 | Author: Jeffrey Stern
  • Law Firm: Stroock & Stroock & Lavan LLP - New York Office
  • In a dramatic and potentially far-reaching move, the Federal Reserve Board announced in a press release on Tuesday, October 7, the creation of the "Commercial Paper Funding Facility" (CPFF), a facility intended to restore liquidity to the strained U.S. commercial paper markets.