Federal Reserve boosts flow of dollars to European Central Bank

Thank you for using rssforward.com! This service has been made possible by all our customers. In order to provide a sustainable, best of the breed RSS to Email experience, we've chosen to keep this as a paid subscription service. If you are satisfied with your free trial, please sign-up today. Subscriptions without a plan would soon be removed. Thank you!

Worried that a mounting debt crisis in Europe could trip up the global economy, the Federal Reserve opened its vault Thursday to the central banks of other countries in an effort to head off a crippling shortage of dollars.

The main recipient of the Fed's money is the European Central Bank, which will in turn extend dollar loans to banks in the countries that use the euro currency. Those banks do significant business in dollars — such as making loans to customers who operate around the world — and have been finding it difficult to raise dollars from anxious investors.

Read full article >>

Joby Warrick 16 Sep, 2011

--
Source: http://feeds.washingtonpost.com/click.phdo?i=c11ac6d04ecff8cb14b37c36846b4329
~
Manage subscription | Powered by rssforward.com