WASHINGTON - Federal regulators yesterday announced $800 billion of new lending and debt purchasing programs designed to free up the housing, auto, credit card and student loan markets, but said they will not cover tax-exempt securities, drawing concerns from the muni market.

The Treasury Department and Federal Reserve unveiled programs that would purchase up to $600 billion of debt sold by government-sponsored entities Fannie Mae and Freddie Mac as well as Ginnie Mae and the Federal Home Loan Banks, and create a smaller, $200 billion lending program that would allow investors to borrow from the Fed using auto, credit card and student loan asset-backed securities as collateral.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.