Commercial Paper Funding Facility (CPFF)
In 2008, the Federal Reserve offered to purchase highly rated, three-month commercial paper in response to difficulty companies had raising money in the commercial paper market. The goals were to persuade investors to lend to top-tier companies and give borrowers a backstop if funds can't be obtained in the open market. The CPFF began operations on Oct. 27, 2008, and closed on Feb. 1, 2010.
Nearby TermsCommercial Mortgage Backed Securities Commercial paper Commercial Paper Funding Facility (CPFF) Commercial property Commercial real estate loans
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University