FT.com / World - Fed leads fresh $200bn money market intervention
A group of the world’s largest central banks launched a co-ordinated effort to inject liquidity into money markets in North America and Europe, with the US Federal Reserve offering to double the sums it is prepared to lend, raising the total facilities available by a further $200bn from what it announced only last Friday.
The Fed also said it would increase the currency swap arrangements it already put in place with the European Central Bank and the Swiss National Bank by $10bn and $2bn respecitvely. In addition, the terms of the swap agreements have been extended through to the end of September 2008.
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