Fed's Backing of Commercial Paper Draws Slight Initial Response.

The article reports on the U.S. Federal Reserve support for the commercial-paper market, which according to investors, would result to drop of the overnight borrowing rates in the commercial-paper market and asset-backed commercial-paper market in the U.S. in 2008. It notes that among other areas affected are the money-market funds, which led to borrowing because few investors where willing to allow longer term debt.