Through D.C. din, Fed hears captives' call

Henry, Jim
December 2008
Automotive News;12/1/2008, Vol. 83 Issue 6336, p28
Trade Publication
The article reports that the U.S. Federal Reserve in effect has lent GMAC Financial Services LLC, Ford Motor Credit Co. and Chrysler Financial around $10 billion since late October 2008. The loans help automaker finance companies replenish their cash to make car loans and leases and thus retain profits and market share. On October 27 the Fed launched a program called the Commercial Paper Funding Facility, aimed at thawing the market for commercial paper.


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