The Wall Street Journal: Fed relaunches crisis-era Primary Dealer Credit Facility

The Federal Reserve said Tuesday it would relaunch a crisis-era facility that allows large financial institutions access to short-term loans.

The Primary Dealer Credit Facility, originally established in 2008, will seek to tamp down strains in funding markets by expanding loans to the 24 large financial institutions known as primary dealers, which function as the Fed’s exclusive counterparties when trading in financial markets.

An expanded version of this report appears on WSJ.com:

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