Miss Annie
11-30-2011, 08:06 AM
Here we go, the beginning of the European bailout that we the taxpayers are going to be responsible for!
Fed, ECB offer aid for global financial system
http://money.cnn.com/2011/11/30/news/economy/fed_ecb_dollar_liquidity/index.htm?iid=Lead
NEW YORK (CNNMoney) -- The Federal Reserve, acting with five other central banks, took further steps Wednesday to make it cheaper for banks around the world to trade in U.S. dollars.
The Fed -- along with central banks of the eurozone, England, Japan, Switzerland and Canada -- announced a coordinated plan to lower prices on dollar liquidity swaps beginning on December 5, and extending these swap arrangements to February 1, 2013.
The effort is meant to "ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity," the Federal Reserve said in a press release.
Meanwhile, the People's Bank of China also announced a plan to increase liquidity Wednesday by lowering its reserve requirement ratio for financial institutions by half a percentage point. To top of page
Fed, ECB offer aid for global financial system
http://money.cnn.com/2011/11/30/news/economy/fed_ecb_dollar_liquidity/index.htm?iid=Lead
NEW YORK (CNNMoney) -- The Federal Reserve, acting with five other central banks, took further steps Wednesday to make it cheaper for banks around the world to trade in U.S. dollars.
The Fed -- along with central banks of the eurozone, England, Japan, Switzerland and Canada -- announced a coordinated plan to lower prices on dollar liquidity swaps beginning on December 5, and extending these swap arrangements to February 1, 2013.
The effort is meant to "ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity," the Federal Reserve said in a press release.
Meanwhile, the People's Bank of China also announced a plan to increase liquidity Wednesday by lowering its reserve requirement ratio for financial institutions by half a percentage point. To top of page