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European banks took big slice of Fed aid
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From
02/12/2010 10:48:34
 
 
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Forum:
Politics
Category:
Other
Title:
European banks took big slice of Fed aid
Miscellaneous
Thread ID:
01491573
Message ID:
01491573
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48
Snippet:

Barclays, a British bank, tapped the same facility 49 times. Its individual loans ranged from $300 million to $15 billion. Citigroup used the program 26 times.

The documents help illustrate the global scope of the crisis. The Federal Reserve provided credit lines to some of the largest central banks overseas: The European Central Bank took $8 trillion in temporary credit lines, while the Bank of England took $918 billion. That credit ensured that overseas markets wouldn't freeze for a lack of U.S. dollars, the global reserve currency.

"There's very much a sense from the data that the Federal Reserve was not just providing liquidity to U.S. banks but was creating stability for the entire world's financial system," ...


http://news.yahoo.com/s/ap/20101201/ap_on_bi_ge/us_fed_crisis_lending

Not saying good or bad, just reporting the numbers. It may have kept the world financial system from collapsing. Did it help stabilize the global financial system? Would we be in a much bigger world crisis right now without it? Is reporting this damaging or helpful? Will it cause a run on banks? Nothing appears to be detrimental yet....
.·*´¨)
.·`TCH
(..·*

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