Exact(4)
The Fed also lowered its standards for the kinds of collateral that it would accept against such short-term loans.
The E.C.B. lowered the credit ratings it requires for some kinds of collateral, for example securities backed by auto or consumer loans.
In a joint announcement, the Fed and the Treasury said they would extend the program but they also announced pointedly that they would not expand the program to finance lending backed by additional kinds of collateral.
The Fed, after all, is the lender of last resort, with the authority to lend to a wide variety of institutions on the basis of many kinds of collateral.
Similar(54)
And this, too, brings its own kind of collateral damage.
–What kind of collateral damage did the terrorist incident and/or responses cause?
They're not the kind of collateral damage we should care about.
Then there the 42 million on food stamps, which is a kind of collateral damage from unemployment.
"Rape was considered a kind of collateral damage," said Rhonda Copelon, a professor of law at CUNY. "It was seen as part of the unpreventable, fundamental culture of war".
Regulators can let the firm fall apart suddenly and risk the kind of collateral damage that the bankruptcy of Lehman Brothers caused.
Mr. Bernanke acknowledged growing concerns about the lack of openness about who is receiving loans from the Fed and exactly what kind of collateral it is holding.
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