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Fed's $1 Trillion Program To Jumpstart Credit Market Nears Launch

The US Federal Reserve will launch its financing ­programme, worth up to $1,000bn, for consumer and business loans in the coming days, amid concerns that hedge funds might find it difficult to take advantage of the scheme.

The programme - the term asset-backed securities loan facility (Talf) - is the cornerstone of the US authorities' push to jump-start the credit market. Officials at the central bank say it will be up and running by the end of this month.

 

Fed urges banks to lend bailout funds: source

The Federal Reserve Board on Tuesday put more pressure on banks to cut dividends as conditions deteriorate, and said it would discourage the funding of such payouts with federal rescue money.

 

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