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Commercial Paper Funding Facility |
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The Commercial Paper Funding Facility (CPFF) was created in October 2008 to provide a liquidity backstop to U.S. issuers of commercial paper. The CPFF was designed to improve liquidity in short-term funding markets and thereby contribute to greater availability of credit for businesses and households.
Under the CPFF, the Federal Reserve Bank of New York financed the purchase of highly rated unsecured and asset-backed commercial paper from eligible issuers through eligible primary dealers. The facility expired on February 1, 2010. |
| The CPFF commenced on October 27, 2008 and expired on February 1, 2010. |
| Features |
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The Federal Reserve’s
Commercial Paper Funding Facility  Tobias Adrian, Karin Kimbrough and Dina Marchioni Economic Policy Review (forthcoming article), June 2010 |
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| News and Announcements |
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New York Fed releases 2009 consolidated financial statements |
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January 26-27 Federal Open Market Committee meeting statement |
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New York Fed releases updated CPFF FAQs |
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Federal Reserve announces extensions of and modifications to a number of its liquidity programs |
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New York Fed releases 2008 consolidated financial statements |
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Federal Reserve announces the extension of five liquidity facilities through October 30, 2009 |
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Change to CPFF Eligibility Requirements |
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