Saturday, January 5, 2008
Can you believe this – Fortnightly auctions will continue for as long as necessary, the Fed has said.
The US Federal Reserve has increased the amount of money available to banks as it seeks to help financial markets hit by the global lending squeeze. It said that banks could bid for $60bn worth of credit this month, instead of the $40bn it had earlier promised. So how long will it take before the Banks trust oneanother enough to begin lending each other money?