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ECB offers $100 bln in 4-day dollar funds

Fri Oct 10, 2008 3:05am EDT

FRANKFURT, Oct 9 (Reuters) - The European Central Bank called for bids in a 4-day tender of $100 billion on Friday as it continues to battle tense money market conditions.

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Bids in the tender are due by 0730 GMT and the results will be published shortly after 0845 GMT, the ECB said on its Reuters information page ECB33.

The ECB said the funds would be lent over four days because Monday, Oct. 13 is a U.S. holiday, and it will hold no overnight dollar auction on that day.

In cooperation with the U.S. Federal Reserve, the ECB has provided euro zone banks with dollars since last December in return for euro-denominated collateral.

The move is one of a string of actions it is taking to try to restore confidence in interbank lending markets. (Reporting by Krista Hughes; editing by David Stamp)

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