MONEY MARKET INVESTOR FUNDING FACILITY - MMIFF
A funding mechanism created by the Federal Reserve on November 24, 2008, which aims to stimulate institutional investors for them to assume investments with longer terms. This facility is designed to support a private sector initiative to give liquidity to money market investors. Financial crisis woes led to an influx of institutional investors to take overnight positions at the end of 2008, putting a strain on short-term debt markets. The Federal Reserve Bank of New York through special purpose vehicles (SPVs) provide the financing.
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