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US Central Borrowed from Federal Lending Fund

U.S. Central Corporate Federal Credit Union tapped the Federal Reserve's emergency loan fund at least four times from July through September 2008, according to data released by the Federal Reserve.

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U.S. Central Corporate Federal Credit Union tapped the Federal Reserve’s emergency loan fund at least four times from July through September 2008, according to data released by the Federal Reserve.

The data, which was released by the Fed as required by the financial overhaul bill, showed U.S. Central borrowed $10.5 billion from the Federal Reserve’s Term Auction Facility, a special fund created to pump liquidity into financial institutions during the height of the financial crisis.

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