Fed-S&P downgrade doesn't affect discount window

WASHINGTON - A Federal Reservespokesperson said on Friday that Standard & Poor's ratingsdowngrade of US debt does not affect the operation of theFed's emergency lending window or its buying and selling ofTreasury securities to conduct monetary policy.

"The decision by Standard and Poor's has no implicationsfor the operation of the Federal Reserve's discount window orthe conduct of open market operations," a Fed spokespersonsaid.