Banks to create fund to head off asset sale
The Master-Liquidity Enhancement Conduit seeks to prevent an asset fire sale and to stimulate credit markets.
Citigroup, Bank of America and other banks have met with the Department of the Treasury, aiming to create a fund that would prevent a massive asset fire sale, and would stimulate the credit markets.
During the weekend, the Treasury Department hosted talks to help the banks set up a $100 billion fun
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