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Commercial Paper Funding Facility

   Also found in: Acronyms 0.01 sec.
Commercial Paper Funding Facility
A program implemented by the Federal Reserve System in response to the 2008 financial crisis. The New York Federal Reserve Bank (through a special purpose vehicle) purchased commercial paper from U.S.-based issuers in order to promote liquidity and the availability of credit in the wake of collapse of Lehman Brothers and other investment banks. The Commercial Paper Funding Facility expired in 2010.


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The net portfolio holdings of the Commercial Paper Funding Facility (CPFF) continue to decline, leaving it well off its peak of $351 billion in late January.
Among the extended programs were the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Money Market Investor Funding Facility, the Primary Dealer Credit Facility and the Term Securities Lending Facility.
Additionally, the Federal Reserve created the Commercial Paper Funding Facility to purchase commercial paper from U.
 
 
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