Friday, May 02, 2008

Fed, European Banks Coordinate on Credit Crisis

Posted by Plus Master at 9:05 AM
 

The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks.

The Fed said it was boosting the amount of emergency reserves it supplies to U.S. banks to $150 billion in May, from the $100 billion it supplied in April. The Fed took this action and several other moves to boost credit in coordination with the European Central Bank and the Swiss National Bank.

Read the full story here on MSNBC.Com.
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