The Securities Industry and Financial Markets Association (SIFMA) today released the following statement from its president & CEO Tim Ryan, after the US Federal Reserve announced it would extend the period the Primary Dealer Credit Facility — known as the discount window — is opened to securities firms.
“Today’s decision by the Fed is the right one for the American economy,“ said Tim Ryan, president & CEO of SIFMA. “Continued access to the window will help calm the waters at a tumultuous time. The availability of this potential liquidity reassures the market, and provides a backstop that, because of its mere presence, makes it less likely to be utilized.”
