Word: short-term
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...still holding dud paper has gummed up credit markets, with banks refusing to lend to one another for fear that the borrowers may default or may have themselves lent to other banks that could default. That in turn is causing solvency problems for some financial institutions that rely on short-term borrowing to fund their operations...
...Last week, nearly 1,000 colleges were told they couldn't access most of the $9.3 billion sitting in a short-term fund that had been offering slightly higher returns than U.S. treasuries. To prevent a run on the fund -12% of which was invested in mortgage-backed securities - the fund's trustee resigned and froze withdrawals so it could liquidate the assets and distribute the proceeds in an orderly manner. The same thing happened to another 200 schools with $1 billion in an intermediate-term fund. Given that the schools will get about half of their money...
...Perhaps not, but even the officers admit that their presence is only a short-term fix to an extremely complicated problem - an endemic lack of respect for traditional institutions among a generation of Britons like those loitering on the Craylands Estate. It would be too expensive, not to mention unpleasant, to have police patrolling every square inch of a town like Pitsea. And anyway,what good could they do in the long run, when schools, youth clubs and even families have failed? When the large, hysterical mother of one of the young men stopped by police came running in response...
...sheets could help temporarily improve those banks' standing, but there's no certainty it will adequately ease the flow of lending in a market permeated by fear of further failures. In fact, the Federal Reserve's move Tuesday to take an active role in the commercial paper market for short-term loans was a tacit acknowledgement that the bailout bill will not on its own stem the bleeding...
...market had initially been buoyed by decisions that occurred before it opened - both the Fed's decision to buy the short-term debt, called commercial paper, that companies issue to fund expenses like payroll and inventory, and the Reserve Bank of Australia's surprising decision to cut its official interest rate by a full percentage point...