Euro banks add more liquidity
Written on October 11, 2008
European central banks continued to push liquidity at the financial sector Thursday, offering $120 billion to prop up lending between banks.
The European Central Bank, representing the 15 countries that use the euro currency, offered $100 billion, while the Bank of England and the Swiss National Bank each offered $10 billion.
Terms of the offers are similar to those in the past. More information on the offers was expected later in the day no fax instant cash advance.
Thursday’s overnight dollar offers follow a surprise announcement Wednesday that the three banks — along with other central banks including the Federal Reserve and the Bank of Canada - had dropped their interest rates in a coordinated move.
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