Fed extends global emergency funding

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NEW YORK (Reuters) -- The U.S. Federal Reserve on Thursday extended a number of its emergency funding facilities and swap lines with central banks around the world to Feb. 1, 2010, saying that while conditions in financial markets have improved recently, some markets remain impaired and seem "likely to be strained for some time."

The U.S. central bank had set up a number of programs to support various credit markets that were frozen in fear of large losses as a result of the crisis. The programs had been scheduled to expire at the end of October.

The Fed's Board of Governors approved extension of the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), the Commercial Paper Funding Facility (CPFF), the Primary Dealer Credit Facility (PDCF), and the Term Securities Lending Facility (TSLF).

The Fed also extended the temporary reciprocal currency arrangements, known as swap lines, between the Federal Reserve and other central banks to Feb. 1.