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Fed Expands Loan Facilities; Banks Establish $70 Billion Fund 

Sep 15, 2008By

Updating an earlier email subscriber exclusive sent out last Friday, ten banks said Monday that they’ve established a $70 billion borrowing facility to bolster liquidity among a battered financial market in the wake of the failure of Lehman Brothers Holdings Inc. [stock LEH][/stock] and the sale of Merrill Lynch & Co. [stock MER][/stock] to Bank of America Corp. [stock BAC][/stock].

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