Oct. 24 (Bloomberg) -- General Electric Co., the biggest U.S. issuer of commercial paper, plans to use the Federal Reserve’s new short-term funding facility, throwing its weight behind the central bank’s efforts to unlock the credit markets.Gee. I am more than happy to support what the Fed is doing, so if they want to send me fifteen billion dollars...
GE and its General Electric Capital Corp. finance arm registered as users of the Fed’s Commercial Paper Funding Facility, spokesman Russell Wilkerson said yesterday in a telephone interview. The company hasn’t set an amount that it plans to borrow and will base that decision on commercial-paper buyers’ need for liquidity, he said.
“This is a way for us to demonstrate our support for what the Fed is doing, which is providing all-around liquidity,” Wilkerson said.
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