Liberty Street Economics
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1 posts on "CPFF"
May 15, 2020

The Commercial Paper Funding Facility

Nina Boyarchenko, Richard Crump, and Anna Kovner Nina Boyarchenko, Richard Crump, and Anna Kovner

This post documents dislocations in the commercial paper market following the COVID-19 outbreak that motivated the Fed to create the Commercial Paper Funding Facility, and tracks the subsequent improvement in market conditions.

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Posted at 7:00 am in Central Bank, Corporate Finance, COVID-19 Facilities, Federal Reserve, Financial Markets, Liquidity, Pandemic | Permalink

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

The editors are Michael Fleming, Andrew Haughwout, Thomas Klitgaard, and Asani Sarkar, all economists in the Bank’s Research Group.

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The views expressed are those of the authors, and do not necessarily reflect the position of the New York Fed or the Federal Reserve System.

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Most Read this Year

  1. Credit Card Delinquencies Continue to Rise—Who Is Missing Payments?
  2. Delinquency Is Increasingly in the Cards for Maxed-Out Borrowers
  3. Spending Down Pandemic Savings Is an “Only-in-the-U.S.” Phenomenon
  4. Auto Loan Delinquency Revs Up as Car Prices Stress Budgets
  5. What Was Up with Grocery Prices?
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