- The Washington Times - Tuesday, July 1, 2008

DEVELOPING:

WASHINGTON (AP) – The Federal Reserve has auctioned another $75 billion in loans to squeezed banks to help them overcome credit problems and announced that it will provide a fresh batch of the loans this month.

The central bank on Tuesday released the results of its most recent auction – the 15th since the program began in December. It’s part of an ongoing effort to ease financial turmoil and credit stresses. The Fed also said it will conduct two auctions in July, with each one making available $75 billion worth of loans.

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