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联储会减息的正式声明(附中文注解)

(2007-08-17 07:36:35) 下一个
先是房贷债券被银行视为废纸(本是用来裹着定时炸弹、打上 CDO 的标签打包批发的),然后企业债券也被正名为垃圾,股市狂泄,美元没人要了。再这么搞下去的话,就不只是房贷公司破产和避险基金关门的问题了,主要滑儿街公司也快要玩儿完了。银行吓得要死,无论如何不再借钱出去,股民纷纷传言黑色星期五(或黑色星期一)即将来临,JIM CRAMER 也快要疯了(?)。

尽管我们口头上还得说经济仍在缓慢成长,但如果这种人心惶惶的气氛传染到社会大众的话,经济衰退就很有可能了(至少是连续几年的超低速经济增长),现在是我们不得不进场救市的时候了。

我们宣布,立即开放联邦政府的贷款窗口,利率从6.25%降低到5.75%,想借多久都行,什么样的抵押品都行,垃圾债券?没问题!次级房贷债券?拿来!要知道,政府是不怕赔钱的,一来可以增加联邦税,二来就让财政部的印钞机加班就是了。通货膨胀?现在救命要紧,顾不上那些了。排好队,总得有个先来后到,借几亿?

=== 外汇论坛
债市、股市、汇市,市市关心;小赚、大赚、狂赚,赚就开心。 http://groups.wenxuecity.com/groupview.php?gid=123

Federal reserve Board
For immediate release

Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward. In these circumstances, although recent data suggest that the economy has continued to expand at a moderate pace, the Federal Open Market Committee judges that the downside risks to growth have increased appreciably. The Committee is monitoring the situation and is prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets.

To promote the restoration of orderly conditions in financial markets, the Federal Reserve Board approved temporary changes to its primary credit discount window facility. The Board approved a 50 basis point reduction in the primary credit rate to 5-3/4 percent, to narrow the spread between the primary credit rate and the Federal Open Market Committee's target federal funds rate to 50 basis points. The Board is also announcing a change to the Reserve Banks' usual practices to allow the provision of term financing for as long as 30 days, renewable by the borrower. These changes will remain in place until the Federal Reserve determines that market liquidity has improved materially. These changes are designed to provide depositories with greater assurance about the cost and availability of funding. The Federal Reserve will continue to accept a broad range of collateral for discount window loans, including home mortgages and related assets. Existing collateral margins will be maintained. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York and San Francisco.
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