US Federal Reserve urged not to restrict the quantum of stimulus measures
The new facility will offer "support for the flow of credit to households and businesses" by ensuring the $3.8 trillion money market mutual fund industry can sell its holdings of US Treasury bonds
The decision came after the bank's 25-member governing council held emergency talks by phone late into the evening.
The Fed said the Treasury will provide $10 billion of credit protection to the central bank's commercial paper operation
The US central bank relaunched a financial crisis-era purchase of short-term corporate debt to help companies be able to continue paying workers and buy supplies through the pandemic
Under the Commercial Paper Funding Facility, first used in 2008, the central bank will buy short-term corporate debt directly from the companies that issue it
The big disappointment for markets was that the Fed did not offer a repurchase programme for the commercial paper market
Oil prices have come under intense pressure on both demand and supply sides
The dollar fell from a more than two-week high and stock markets plunged after the Fed cut rates for the second time this year
The Bank of Japan just said it will hold an emergency meeting Monday, instead of the March 18-19 scheduled one
US stock futures plunged 4.8% to hit their downlimit before daybreak in Singapore. The dollar sank more than 2% against the yen
The US Federal Reserve cut rates to a target range of 0% to 0.25% and said it would expand its balance sheet by at least $700 billion in coming weeks
Policymakers were not due to hold their next interest-rate setting meeting until March 17-18.
US President Donald Trump congratulated the central bank for taking further action aimed at helping shore up the US economy
The govt last cut the small savings rates for the July-September 2019 quarter, except for one scheme
The United States has in recent days received a taste of the types of disruptions that the virus has wrought in other countries, including Italy and South Korea.
Global financial market stress driving market volatility; economic impact of coronavirus and drop in oil prices remain uncertain
Globally, economic policy could soon be in uncharted territory
Beyond perking up the economy, the RBI needs to ensure proper functioning of the bond market, the credit market and the larger financial system
The Fed is reassuring lenders that they should dip into those buffers if needed, the sources said