NY Fed Ploughs in $53 Billion to Save Overnight Lending Market Amid Turmoil in Financial Markets

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As everyone knows, easy availability of credit at favorable rates of interest is one of the backbones of the trading ecosystem in Wall Street. Hence, if there is a slight rise or any kind of fluctuation in that rate of short term borrowing, then the entire structure enters a risky zone. Every day, trillions of …

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