Adrian, Tobias; Kimbrough, Karin; Marchioni, Dina - 2010
The Federal Reserve created the Commercial Paper Funding Facility (CPFF) in the midst of severe disruptions in money … unsecured and asset-backed commercial paper from eligible issuers via primary dealers. The CPFF was a liquidity backstop to U ….S. issuers of commercial paper, and its creation was part of a range of policy actions undertaken by the Federal Reserve to …