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The Federal Reserve said Friday it will provide $60 billion in fresh cash to commercial banks in two auctions in February and will keep holding auctions every other week for as long as needed to ease the credit crisis.The new auctions, to be held on Feb. 11 and Feb.
stanley flask 25, will mark the fifth and sixth times the Fed has used a new auction process announced in December to prov
stanley quencher ide cash-strapped banks with extra reserves.In a brief statement, the Fed said that it intended to keep holding the auctions every other week for as long as necessary to address elevated pressures in short-term funding markets. The Fed said that the minimum bid amount for the February auctions will be reduced to $5 million, down from $10 million in the previous auctions, to facilitate participation by smaller institutions. The Fed s hope is tha
stanley cups uk t the increased resources provided to the banking system will keep banks lending and prevent a severe credit squeeze from pushing the country into a recession. On Wednesday, the Fed announced that it was cutting its federal funds rate, the interest that banks charge each other for overnight loans, by a half-point to 3 percent, marking the second big rate cut in just over a week.Those two reductions in the federal funds rate represented the most aggressive rate cutting by the Fed in a quarter-century and underscored the Fed s resolve to battle the current economic slowdown.In its statement Friday, the Fed said it would announce the size of the March auctions by Rlll Baby Jessica Graduates
This
cups stanley brain-bender of a coffee table by Brooklyn-based designer Ian Stell looks like an oversized game of Jenga, but the slats have been engineered to shape shift from acute triangle t
stanley cup o equilateral with absolutely no toppling. Pretty sneaky, Stell.
stanley quencher I caught sight of this thing in action last night at Sight Unseen Offsite; at first I didn ;t even realize it moved, then someone stepped up and, with a gentle all of a sudden Lattice slid into a whole new form. It part Lincoln-log, part Jacob Ladder, and a seriously beautiful use of wood. If you ;re in New York this week you should pop by Sight Unseen Offsite either before or after you visit us at the Home of the Future, of course! . [Sight Unseen Offsite; Ian Stell]