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Latest Federal Reserve responses to the subprime crisis Stories

2010-04-01 06:30:00

DALLAS, April 1 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that World Financial Network Credit Card Master Note Trust has issued $100 million of fixed-rate term asset-backed securities. The asset-backed securities were issued as part of the securitization program for Alliance Data's private label credit card banking subsidiary, World Financial Network...

2009-08-14 06:30:00

DALLAS, Aug. 14 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that World Financial Network Credit Card Master Note Trust has issued $950,000,000 of fixed-rate term asset-backed securities. The asset-backed securities were issued as part of the securitization program for Alliance Data's private label credit card banking subsidiary, World Financial Network...

2009-08-13 10:08:27

The U.S. Federal Reserve signaled a cautious approach to an economic recovery to avert inflation, economists said Thursday. The Fed said Wednesday it would unwind a $300 government bond purchasing program, showing confidence that positive economic data amounted to a first step in a recovery. The Fed said economic activity is leveling out. But the Fed's Open Market Committee Wednesday said the bank would keep current lending rates intact at zero to 0.25 percent and did not signal a retreat...

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2009-07-21 12:24:20

U.S. Federal Reserve Chairman Ben Bernanke said Tuesday the U.S. economy and financial markets have improved but were still too weak to raise interest rates. Rates will therefore likely remain at exceptionally low levels for extended periods, Bernanke told the House Financial Services Committee. While the pace of economic decline appears to have slowed significantly, the labor market continues to weaken, he said. The unemployment rate is currently at a 26-year high of 9.5 percent, and the Fed...

2009-04-14 09:37:00

DALLAS, April 14 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that it has issued $709 million of term asset-backed securities to investors participating in the U.S. government's recently created TALF (Term Asset-Backed Securities Loan Facility) program, representing an increase in the size of the originally anticipated offering. The asset-backed securities...

2009-03-18 15:11:18

The U.S. Federal Reserve said Wednesday it would keep lending rates low, and pump money into housing and the general economy using other means. The Fed said in a statement it would increase its purchases of mortgage-backed securities by $750 billion, bringing its total support for housing this year to $1.25 trillion. The Fed will also initiate a program of purchasing $300 billion in Treasuries over the next six months. In addition, the Fed will use $100 billion to increase purchases of agency...

2008-12-22 13:27:00

WASHINGTON, Dec. 22 /PRNewswire-USNewswire/ -- Following President Bush's announcement Friday to provide $17.4 billion in bridge loans to General Motors and Chrysler, the Federal Reserve Board, in a related action, addressed a key request from the National Automobile Dealers Association by including floorplan securitizations in a new $200 billion credit facility the Federal Reserve is establishing. The Federal Reserve on Friday clarified the eligibility requirements under the new Term...

2008-12-01 14:38:18

U.S. Federal Reserve Chairman Ben Bernanke said Monday that further reductions in the current lending rate are possible. Bernanke directly addressed the addressed the topic in a speech for the Greater Austin Chamber of Commerce in Texas, saying further rate reductions are certainly feasible, but pointing out that with the current target rate at 1 percent, the scope for using conventional interest rate policies to support the economy is obviously limited. Bernanke said the central bank must...

2008-11-25 11:28:58

The U.S. Federal Reserve Board said Tuesday it would create a new program to help investors purchase credit card, student, and auto-loan backed securities. Under the Term Asset-Backed Securities Loan Facility, or TALF, the Federal Reserve Bank of New York will lend up to $200 billion to investors. The U.S. Treasury will also contribute $20 billion, using funds from the Troubled Asset Relief Program, the Fed said in a statement. The program is designed to ease credit for consumers. In...

2008-08-24 12:00:17

By Michael M. Grynbaum Louis Uchitelle contributed reporting from Jackson Hole, Wyoming. * The chairman of the Federal Reserve, Ben Bernanke, warned on Friday that the U.S. economy would "fall short of potential for a time" and urged regulators to develop a broader approach to policing the financial industry. Speaking at a conference in Jackson Hole, Wyoming, Bernanke offered an economic outlook that was not significantly different from the comments released by Fed officials after...