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US Fed Reserve offers $50bn funding

The US Federal Reserve has offered $50bn in 28-day funding to banks through a crisis auction today.

The central bank has offered the credit through its Term Auction Facility.

The auction was opened at 11am EDT and will close at 1pm EDT. The maximum bid amount per institution is $5bn.

The minimum amount for a bid is $5m and the funding is being offered at 2.19%.


Dunfermline appointment

Dunfermline has appointed finance director Patrick Ferguson to its board of directors.The mutual says the move recognises Ferguson’s hard work and the value he offers to the business.

Money Partners joins Exclusive Connections’ lender panel

Exclusive Connections has appointed Money Partners to its lender panel. The arrangement means that Money Partners’ range of specialist mortgage products is now available to Exclusive Connections’ network of members. Exclusive Connections’ members will now have access to Money Partners’ products, which include a reduction in reversionary rates and an increased level of adverse on […]

Five days notice for Coventry’s latest product change

Coventry and Godiva have given brokers a total five working days notice for its latest product refresh.The firm already pledges to give brokers two working days prior to any product withdrawal, but it’s aiming to go one step better.It’s giving tweo days working days notice of product withdrawal and accept pipeline business for three days […]

High demand for OEA code

The Ombudsman for Estate Agents has reported a strong response to its code of practice scheme. And a report by Christopher Hamer, ombudsman of the OEA, shows that while member numbers climbed by 60% during 2007, complaints also increased by 48% for residential sales.

India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.


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