Fed loan auctions total $435 billion

From Times Wire Services

Battling to relieve stressed credit markets, the Federal Reserve said Tuesday that it had provided a total of $435 billion in short-term loans to squeezed banks since December to help them overcome credit issues.

The central bank announced the results of its most recent auction -- $75 billion in short-term loans -- the 11th such auction since the program started in December.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World