Financial Winners & Losers: KeyCorp
Updated from 1:01 p.m. EST
NEW YORK -- Shares of regional banks were mixed Tuesday, after the government introduced a number of new initiatives designed to help unfreeze the credit markets.
The Federal Reserve said it will buy $500 billion in mortgage-backed securities, or pools of mortgages that are bundled together and sold to investors. The government will also lend up to $200 billion to the holders of securities backed by various types of consumer loans, including credit card loans.
The programs represent the latest efforts by the government to help spur more normal lending among banks and to consumers. Financial institutions have been hesitant since the bankruptcy of Lehman Brothers in September to lend money for fear they won't be repaid. ...
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