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Commercial Paper Funding Facility
The Federal Reserve created the Commercial Paper Funding Facility (CPFF) to provide a liquidity backstop to U.S. issuers of commercial paper. The CPFF is intended to improve liquidity in short-term funding markets and thereby contribute to greater availability of credit for businesses and households. Under the CPFF, the Federal Reserve Bank of New York will finance the purchase of highly-rated unsecured and asset-backed commercial paper from eligible issuers via eligible primary dealers.
 
News and announcements

New York Fed releases updated CPFF FAQs
October 19, 2009

Federal Reserve announces extensions of and modifications to a number of its liquidity programs Offsite
June 25, 2009

New York Fed releases 2008 consolidated financial statements
April 23, 2009

Federal Reserve announces the extension of five liquidity facilities through October 30, 2009 Offsite
February 3, 2009

Change to CPFF Eligibility Requirements
January 23, 2009

CPFF registration
October 20, 2008

New York Fed Releases Expanded CPFF FAQs
October 17, 2008

Board announces additional details regarding the Commercial Paper Funding Facility (CPFF) offsite
October 14, 2008

Statement Regarding Asset Management Services in Support of CPFF
October 8, 2008

Board announces creation of the Commercial Paper Funding Facility (CPFF) to help provide liquidity to term funding markets offsite
October 7, 2008