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Late Thursday afternoon, it surprised the markets by raising the discount rate it charges though its emergency window to 0.75% from 0.50% while keeping its targeted Federal funds rate at between zero and 0.25%.
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The Fed also lowered its emergency discount window lending rate to 1.25%, from 1.75%, on Wednesday.
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The markets assumed since then that with access to the U.S. Federal Reserve's emergency lending window, none of the other primary dealers, including Lehman, would falter.
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It will be made easier for them to gain access to the Fed's discount window if they need emergency funds.
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His online tool is something can can give anyone with Web access a window onto the public discourse about this emergency, whether or not they use Twitter.
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To put it another way, the Bank is saying that in a business-as-usual way, with no stigma attached and at a cheaper interest rate, it will provide the funds that till now it would only provide through its so-called discount window - which is where banks go to borrow in an embarrassing emergency.
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One plane had a cracked cockpit window, another had a fuel leak and a third plane made an emergency landing after a smoke alert went off.
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The window of just minutes is unlikely to be met by even the most intrepid emergency medical service.
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