It has been amassing Treasuries and mortgage-relatedsecurities in a bid to bring down long-term borrowing costs andrevive the economy. Much of this week's decline in the Fed's balance sheetstemmed from fewer direct loans to higher-credit banks, a fallin commercial paper holding and a drop in its liquidity swaplines with other central banks, the latest Fed data showed. Net portfolio holdings of the Fed's Commercial PaperFunding Facility, which is buying three-month top-rated CP tofree up this vital source of short-term corporate funding, were$157.08 billion on Wednesday, down from $163.21 billion a weekago. Banks' primary credit discount window borrowings averaged$38.16 billion per day in the latest week, down from a dailyrate of $39.87 billion in the previous week. The Fed's credit lines with other central banks to providedollars stood at $235.11 billion on Wednesday, down from$246.84 billion a week earlier. Meanwhile, the Fed's holdings of mortgage-backed securitieswere relatively flat at $431.48 billion on Wednesday, comparedwith $431.55 billion a week earlier.
Earlier Thursday, the Fed reported net MBS purchases of$24.68 billion in the week ended Wednesday, bringing itscumulative purchase to nearly $482 billion since the beginningof the year. [ID:nN21300404] In other types of Fed financings, credit extended toinsurer AIG totaled $45.11 billion on Wednesday compared with$45.70 billion a week earlier. The Fed's Term Asset-Backed Securities Loan Facility (TALF)on Wednesday was $15.92 billion, unchanged from a week ago. (Reporting by Richard Leong; Editing by Dan Grebler) Bonds Funds News ETFs News. LOUISVILLE, Ky.--(Business Wire)--Churchill Downs Incorporated (NASDAQ: CHDN) ("CDI" or "Company") today announcedthe appointment of Rohit Thukral to serve as the Company`s executive vicepresident of technology initiatives and president of CDI`s nationaladvance-deposit wagering platform, TwinSpires .
In his new role, Thukral will oversee the operations and development ofTwinSpires, as well as other CDI technology initiatives. He will report toPresident and Chief Executive Officer Robert L Evans. Thukral assumes his newrole effective immediately and will succeed Vernon Niven, who announced hisdeparture from the Company in February. Niven will remain with the Companythrough June 7 to assist with the transition. "Rohit has been a key member of our TwinSpires team since joining the Company inDecember 2006, and played a major role in the success of our ADW initiative,"said Evans. "His extensive knowledge of and experience with technology solutionsmake him a valuable asset to our Company, and I`m pleased to welcome him toCDI`s management team. As we continue to explore new opportunities forinnovation and growth in the horse racing industry, his leadership skills andbroad technological background will serve as a valuable guide." "Churchill Downs Incorporated is the undisputed leader of its industry, and hasan outstanding record of success," said Thukral.
"I am honored to take a largerrole in its future and I look forward to working as a member of the team to helpthe Company continue to innovate, evolve and grow." Thukral comes to his new position after two years with TwinSpires, where heserved as vice president of product development. Prior to joining CDI, he servedas vice president of product management for BDNA Corporation, a leading providerof IT infrastructure management solutions. He has also worked as senior directorof software development for Aspect Development in California and held numerouspositions within Mentor Graphics, a developer of electronic design automationsoftware. Thukral holds an MBA from the University of California Los Angeles anda master`s degree in mechanical engineering from the University of SouthernCalifornia. Churchill Downs Incorporated ("Churchill Downs"), headquartered in Louisville,Ky., owns and operates world-renowned horse racing venues throughout the UnitedStates. Churchill Downs` four racetracks in Florida, Illinois, Kentucky andLouisiana host many of North America`s most prestigious races, including theKentucky Derby and Kentucky Oaks, Arlington Million, Princess Rooney Handicapand Louisiana Derby.