BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Fed, central banks team up to stem credit crunch]]>http://www.bloggingstocks.com/2007/12/12/fed-central-banks-team-up-to-stem-credit-crunch/http://www.bloggingstocks.com/2007/12/12/fed-central-banks-team-up-to-stem-credit-crunch/http://www.bloggingstocks.com/2007/12/12/fed-central-banks-team-up-to-stem-credit-crunch/#commentsFiled under: , , ,

The U.S. Federal Reserve's effort, in coordination with the European Central Bank and three other central banks, to add liquidity by special and traditional means represents a prudent step to maintain properly functioning credit markets, economists and analysts told BloggingStocks on Wednesday.

Further, the move is the largest coordinated international monetary policy action taken since the world's major central banks provided liquidity to ensure proper market function following the September 11, 2001, terrorist attack on the United States.

The Fed announced Wednesday that it would inject up to $40 billion in reserves into money markets via a new, temporary program called a "term-auction facility." The emergency funds would be made available to banks next week via auction process -- $20 billion each -- on December 17 and December 20. The Fed also said it is setting up lines of credit with the European Central Bank and the Swiss Central Bank that could be used for additional resources.

Continue reading Fed, central banks team up to stem credit crunch

Fed, central banks team up to stem credit crunch originally appeared on BloggingStocks on Wed, 12 Dec 2007 16:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Bank of EnglandBen BernankeBernankebond marketBush Administrationcredit crisiscredit crunchcredit marketsdiscount rateECBeconomic growthEconomicGrowthEuropean Central BankFedFed funds rateforeclosureshousinginthenewsmonetary policymortgage backed securitiesmortgagesrecessionsuprime mortgagesSwiss Central BankU.S. economyU.S. Federal ReserveWed, 12 Dec 2007 16:50:00 EST