http://en.wikipedia.org/wiki/Federal_Reserve_System#cite_note-91
Creation of the third tool, called the Primary Dealer Credit Facility (PDCF), was announced on March 16, 2008.The PDCF was a fundamental change in Federal Reserve policy because now the Fed is able to lend directly to primary dealers, which was previously against Fed policy.
Creation of the third tool, called the Primary Dealer Credit Facility (PDCF), was announced on March 16, 2008.The PDCF was a fundamental change in Federal Reserve policy because now the Fed is able to lend directly to primary dealers, which was previously against Fed policy.
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