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NY Fed in talks concerning setting up a CDS counterparty

Posted on October 06, 2008

So says Reuters (and CNBC)The statement came after U.S. business television channelCNBC reported the Fed was planning talks with the ChicagoMercantile Exchange, or CME, and the Intercontinental Exchange,or ICE, on the creation of a CDS exchange. The companiesdeclined to confirm the report, although they said they wouldbe willing to participate in any initiative.And Calculated Risk says:Apparently CNBC's Steve Leisman reported (I didn't see it) that the Fedmight announce tomorrow morning some sort of program to buy commercialpaper.I had CNBC on in the background tonight and I think I heard that...

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