New York Fed's Secret Choice to Pay for Swaps Hits TaxpayersQuicklink submitted by Margaret Bassett Permalink
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|The New York Fed, one of the 12 regional Reserve Banks that are part of the Federal Reserve System, is unique in that it implements monetary policy through the buying and selling of Treasury securities in the secondary market. It also supervises financial institutions in the New York region. The Fed has loaned more than $2 trillion, yet it refuses to name the recipients of the loans, or cite the amount they borrowed|
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