World central banks stake billions to staunch global crisis (AFP)
September 19th, 2008 by petulantindulgence
FRANKFURT (AFP) - World central banks took unprecedented action Thursday to flood desperately tight money markets with dollars as investors worried who the next victim of the global financial turmoil could be.
SFGate: World Views
Late last week, Mexico’s central bank, the Banco de México … The peso’s strength indicates that global investors like … S. has not actually experienced a sovereign-debt crisis is …
Finance FP Passport
… the subprime crisis, both in terms of Chinese banks … man in the world, "History proves … that a smart central bank can … Because billions of dollars may be at stake. Private …
The US Federal Reserve led the charge to relieve " achat cialis;elevated pressures" in global markets by offering 180 billion dollars and promising more.
SFGate: World Views : France
… sub-prime mortgage crisis in the U.S., which have spilled over and affected banks … market losses for banks globally, the world … World leaders have legacies. Global disasters have …
Central banks have now spent more than 600 billion dollars this week to avert a global system failure. In addition, the Fed rescued US insurance titan AIG with 85 billion dollars, having allowed Lehman Brothers bank to fail.
The Fed was joined by the European Central Bank with the British, Japanese, Swiss and Canadian banks in offering to swap currencies for dollars, taking the total to some 300 billion dollars on offer.
The US Treasury also announced plans Thursday to raise 100 billion dollars in a new issuance of debt to help support the Fed's actions.
The Fed's joint efforts with the other central banks would "address the continued elevated pressures in US dollar short-term funding markets," according to a statement.
The measures, "together with other actions taken in the last few days by individual acheter cialis central banks, are designed to improve the liquidity conditions in global financial markets."
The concerted central bank action appeared to provide some reassurance for investors, with both European and US stock markets and yields on short-term government bonds on the rise.
Commerzbank analyst Michael Schubert said he believed the central banks may now have a handle on the crisis — provided there are no more of what he called "upsets."
"What central banks have tried to do is to smooth the very short-term money markets and if there is no additional n
Related posts: John mack, Maggie gyllenhaal naked, Wipeout tv show, Serpo, Mediaonline
Leave a Reply
You must be logged in to post a comment.