Items Tagged with 'Money market'

ARTICLES

  • Freddie to Buy $5.9 Billion of Securities

    Mortgage giant Freddie Mac [stock FRE][/stock] plans to buy back €4.28bn (US$5.92bn) of its euro Reference Notes securities through the tender offers that closed Friday at 12 p.m. EST. The four securities in question bear combined principal amounts outstanding of €8.13bn of reference notes due within five years.
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  • Freddie Buys Back $18bn in Short-term Debt

    Freddie Mac [stock FRE][/stock] on Friday ended its largest ever cash tender offer, reporting it bought back $18.04bn of its securities. The tender was announced June 1 in attempt to reduce the GSE's effective short-term debt and move toward larger, longer-term deals with lower rates. The offered debt contained issues totaling nearly $70bn. Those securities accepted held maturities between September 2009 and August 2010.
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  • ABCP Trading Shows Greenshoots

    Activity in the asset-backed commercial paper (ABCP) market is showing a rise in activity, according to traders of the short-term debt product. The data comes amid a deluge of negative news flow in nearly every aspect of the mortgage market. According to Credit Suisse, most ABCP issuers filled financing needs very quickly throughout trading last week, due to a weakening in supply, flat demand and a surprising increase in dealer participation. The bank is one of the few remaining major players of ABCP in the US market.
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  • Fed Acts, Dow Reacts

    U.S. stocks opened on a higher note Tuesday in response to an announcement from the Federal Reserve that it would begin buying three-month unsecured and asset-backed commercial paper.
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  • ABA: Money Market Bailout Could Compromise Bank Deposits

    Citing "deep concerns" about the Treasury's program to guarantee money market mutual funds, American Bankers Association president Edward Yingling said that the bailout of money markets "will undermine the role of banks during this current crisis and has the potential to have an extremely negative impact in the future."
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  • Washington Steps In, Takes on Debt Crisis

    So much for letting financial markets sort themselves out. A series of events unveiled Friday established three-part response from lawmakers and federal regulators to a financial crisis that has spun further out of control this past week.
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  • IMF: Credit Crunch Likely to be 'Protracted'

    A report from the International Monetary fund, released today, said that "a protracted adjustment period" lies ahead in the wake of the financial problems created by the collapse of the U.S. subprime mortgage market. From the press statement:
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