Adrian, Tobias; Kimbrough, Karin; Marchioni, Dina - In: Economic Policy Review (2011) May, pp. 25-39
Established in the wake of Lehman Brothers’ bankruptcy to stabilize severe disruptions in the commercial paper market, the Commercial Paper Funding Facility (CPFF) allowed the Federal Reserve to act as a lender of last resort for issuers of commercial paper, thereby effectively addressing...