The facility will buy unsecured and asset-backed three-month commerical paper directly from eligible issuers.

FORBES: Wall Street Crisis

The Fed will buy unsecured and asset-backed three-month commerical paper directly from eligible issuers.

FORBES: Wall Street Crisis

Then on Tuesday the Fed said it would create a special entity to buy commercial paper directly from eligible issuers.

FORBES: Credit Crisis

The facility will buy unsecured and asset-backed three-month commerical paper directly from eligible issuers, and the Fed will lend funds to the vehicle at the the target Fed funds rate.

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