Federal Reserve Bank of New York President William Dudley said Thursday he believes the central bank "may avoid suffering any credit losses" on its major emergency lending facilities.

Dudley, who is also vice chair of the interest-rate-setting Federal Open Market Committee, was one of the main architects of the central bank's approach to aid financial markets over the course of the last two years.

Dudley was speaking in Chatham, Mass., at an event held by the Federal Reserve Bank of Boston. His comments came as part of a panel discussion and were brief. While he made no mention of how the Fed will exit from its current market supports, he did note that the emergency programs "have gone pretty well" and some of them are "coming off very naturally."

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