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 Strategies & Market Trends : The New Economy and its Winners

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From: bob zagorin12/1/2010 1:00:26 PM
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some very large numbers....

Data Shows Fed Lent Trillions in Primary Dealer Credit Facility (PDCF)
The Federal Reserve just dumped tons of data on a number of programs used to
facilitate market liquidity during the financial crisis. One of the tools was
the Primary Dealer Credit Facility (PDCF) established in March of 2008 in
response to the severe strains in the triparty repurchase agreement market and
the resulting liquidity pressures faced by primary dealers.
The triparty repurchase agreement market is a critical, short-term funding
market. Primary dealers are broker-dealers that serve as the trading
counterparties for the Federal Reserve s open market operations, and have a key
role in providing liquidity in the market for U.S. Treasury securities. In early
March 2008, when strains in financial markets escalated sharply, the PDCF was
established to improve the ability of primary dealers to provide financing to
participants in securities markets, and to promote the orderly functioning of
financial markets more generally.
The PDCF functioned as an overnight loan facility for primary dealers, similar
to the way the Federal Reserve's discount window provides a backup source of
funding to depository institutions. By providing a source of liquidity to
primary dealers when funding was not available elsewhere in the market, the
program helped to improve financial market conditions more generally.
Banc of America Securities (NYSE: BAC): $638.86 billion.
Barclays Capital (NYSE: BCS) $410.44 billion
Bear Sterns : $920.4 billion
BNP Baribas: $66.38 billion
Cantor Fitzgerald: $28.06 billion
Citigroup (NYSE: C) : $2.02 trillion
Countrywide: $77.03 billion
Credit Suisse (NYSE: CS): $1.5 billion
Daiwa: $440 million
Deutsche Bank (NYSE: DB) $500 million
Dresdner Kleinwort Securities $93 million
Goldman Sachs (NYSE: GS) $589.3 billion
JP Morgan Securities (NYSE: JPM) $3.02 billion
Lehman Brothers: $83.3 billion
Merrill Lynch (NYSE: BAC): $2.08 trillion
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