Fed launches temporary repurchase deal for int'l authorities

By Tuba Sahin

ANKARA (AA) - The U.S. Federal Reserve on Tuesday launched temporary repurchase deal facility for foreign and international monetary authorities.

The move will help support the smooth functioning of financial markets and maintain the supply of credit to U.S. households and businesses, the Fed said in a statement.

Foreign and international monetary authorities will be able to temporarily exchange their U.S. Treasury securities held with the Fed for U.S. dollars.