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Wall Street Roundup

Fed loan auctions total $435 billion

May 07, 2008|From Times Wire Services

Battling to relieve stressed credit markets, the Federal Reserve said Tuesday that it had provided a total of $435 billion in short-term loans to squeezed banks since December to help them overcome credit issues.

The central bank announced the results of its most recent auction -- $75 billion in short-term loans -- the 11th such auction since the program started in December.

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