  Let $G$ be a split reductive group over a finite field $k$. In this note we
study the space $V$ of finitely supported functions on the set of isomorphism
classes $G$-bundles on the projective line ${\mathbb P}^1$ endowed with a
trivialization at $0$ and $\infty$. We show that $V$ is naturally isomorphic to
the regular bimodule over the Hecke algebra $A$ of the group $G(k((t)))$ with
respect to the first congruence subgroup. As a byproduct we show that Hecke
operators at points different from $0$ and $\infty$ to generate the "stable
center" of $A$. We provide an expression of the character of the lifting of an
irreducible cuspidal representation of $GL(N,k)$ to $GL(N,k')$ where $k'$ is a
finite extension of $k$ in terms of these generators.
  In a subsequent publication we plan to develop analogous constructions in the
case when $k$ is replaced by a local non-archimedian field.
