As the coronavirus has disrupted economies and financial markets, banks and other financial institutions have sought to sell Treasurys and other securities to raise cash. This selling pressure has, on some days, driven up Treasury yields and clogged financial markets as sellers have struggled to find buyers. The Fed's overseas lending program will enable foreign central banks to convert Treasuries to cash without having to sell them.
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March 31, 2020 at 10:07PM
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Fed steps in once again to try to smooth out lending markets - WWBT NBC12 News
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