MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, March 9, 2010 The Fed Finds Three Big Counterparts The Federal Reserve Bank of New York has found at least three powerful partners for its "reverse repurchase agreement transactions" initiative. The Wall Street Journal's Daisy Maxey reported today that Vanguard Group, Fidelity Investments and Federated Investments have said they'd like to help the Fed control liquidity in the financial market. By using securities like Treasurys, the reverse-repo program is designed to relieve the market of some of the $1 trillion the Fed put into the market during the economic crisis. The news of Vanguard, Fidelity and Federated's involvement come after The Federal Reserve's official call-to-arms Monday. "We would enthusiastically want to take a look at these transactions for our portfolios," David Glocke, manager of the Vanguard Group's money funds, told The Journal. "It's a great alternative to other transactions that we already do." "We do view this as a positive step for cash markets," a Federated spokeswoman said in the article. Printed from: MFWire.com/story.asp?s=31578 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |