Champagne Supernova: 1) The FOMC will purchase Treasury securities and agency mortgage-backed securities “in the amounts needed to support smooth market functioning” (aka QE-infinity). 2) the Fed created two facilities to support credit markets (Corporate QE) – the Primary Market Corporate Credit Facility (PMCCF) for new bond and loan issuance and the Secondary Market Corporate Credit Facility (SMCCF) to provide liquidity for outstanding corporate bonds. 3) announced creation of TALF (Main Street QE), to support the flow of credit to consumers and businesses. The TALF will enable the issuance of asset-backed securities backed by student loans, auto loans, credit card loans, loans guaranteed by the Small Business Administration (SBA), etc. 4) Facilitating the flow of credit to municipalities by expanding the Commercial Paper Funding Facility (CPFF) to include high-quality, tax-exempt commercial paper as eligible securities
