This lending extends to “broker-dealers and banks in Canada, the United Kingdom and some other foreign countries.” More types of collateral from borrowers are acceptable now including “negotiable certificates of deposits payable in the United States;
mortgage-backed securities; the British pound, the Canadian dollar, the Swiss franc, Japanese yen and the Euro; securities issued by multilateral development banks; notes and bonds issued by foreign governments; and irrevocable letters of credit issued by some foreign banks.”An estimated 200 large banks and broker-dealers will utilize the newly awarded lending opportunities.
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