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A banker's guide to financial acronyms (2007-present)

By popular request, here is our ever-growing list of acronyms and their descriptions, as they are being utilized in the current economic downturn by the Federal Reserve, Treasury Department, FDIC, FASB and Congress:

AMLF: Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility The Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) is a lending facility that finances the purchases of high-quality asset-backed commercial paper (ABCP) from money market mutual funds by U.S. depository institutions and bank holding companies. The program is intended to assist money funds that hold such paper to meet the demands for redemptions by investors and to foster liquidity in the ABCP market and money markets more generally. Loans extended through the AMLF are non-recourse loans, meaning that the borrower's obligation to repay the loan can be fulfilled by surrendering the collateral. The initiation of the AMLF, announced on September 19, 2008, relied on authority under section 13(3) of the Federal Reserve Act. It is administered by the Federal Reserve Bank of Boston, which is authorized to make AMLF loans to eligible borrowers in all twelve Federal Reserve districts.
 
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