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Bernanke: Fed Emergency Facility May Remain Open

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Ben Bernanke said this morning that the Federal Reserve is considering extending its emergency lending to brokerages into 2009. This seems to put an end to speculation sparked by the words of Treasury and Fed officials that the Fed might shut the program down this fall. But it's also a reminder that the brokerage borrowing window remains temporary. Indeed, Bernanke emphasized that it would only remain open if the current market turmoil continued.