Fed to lend in unlimited quantites to foreign CB’s??? (Update1)
October 13, 2008 at 12:07 PM EDT
[Skip to the end] This is hard to believe. Those CB’s don’t have unlimited USD. So, if true, they will be borrowing them from the Fed via an extension of Fed swap lines. The FOMC has approved lines of $620 billion as last reported. This is functionally unsecured lending to these CBs. Repayment can only come from selling their [...]