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FACTBOX: Global central bank money market moves this week

FRANKFURT
Thu Sep 18, 2008 11:23am EDT

FRANKFURT (Reuters) - Below is a list of money market moves made by the world's major central banks this week in the wake of a fresh round of global financial market turmoil.

Bonds  |  Global Markets  |  Russia

SUNDAY, SEPT 14

- The U.S Federal Reserve announces that it will allow banks to swap equity for Fed loans for the first time.

- Fed increases the total amount of liquid Treasury securities it lends to $200 billion from $175 billion and increases the frequency of the auctions.

- Fed says it will temporarily allow commercial banks to extend liquid funds to their brokerage affiliates for assets that would normally be accepted in tri-party repurchase agreements.

MONDAY, SEPT 15

- The Fed pumps in a total $70 billion in temporary funds.

- The European Central Bank injects an extra 30 billion euros ($43.52 billion) into overnight money markets as euro money market tensions rise.

- The Bank of England adds an extra 5 billion pounds ($9.13 billion) in 3-day funds.

- The Reserve Bank of Australia puts A$2.1 billion ($1.7 billion) into the local system, well above the market's estimated need of A$828 million.

- Russia's Finance Ministry says it will nearly double the amount of budget funds that can be put on short-term deposit at commercial banks to ease pressure on funding.

- The Bank of Canada injects C$2.305 billion into markets in its biggest intervention since February 2000.

- Norway's central bank adds 20 billion crowns ($3.45 billion) in three-day funds.

- The Swiss National Bank offers around an extra 4 billion francs of overnight cash.

TUESDAY, SEPT 16

- The Fed adds $50 billion to dollar markets in overnight funds.

- The ECB injects 70 billion euros into European markets in overnight funds and adds 39 billion euros more than it assesses markets need in its regular 7-day refinancing operation.

- The Bank of Japan injects $24 billion of one-day cash into the Japanese market.

- The BoE pumps in another 20 billion pounds ($35.21 billion) in two-day funds.

- Russia's central bank injects a record $14 billion in one-day funds.

- The SNB offers extra overnight funds for the second day running.

- The Reserve Bank of Australia adds A$1.8 billion ($1.5 billion) into the system, nearly triple the market's estimated need.

- The Reserve Bank of India pours in almost 60 billion rupees ($1.32 billion).

- Norway's central bank injects $17 billion in emergency cash via FX swaps and overnight funds.

WEDNESDAY, SEPT 17

- The RBA acts for the third day running, adding nearly double the estimated money needed by banks.

- The BoE extends the deadline for UK banks to swap hard-to-trade assets for government liquidity.

THURSDAY, SEPT 18

- The Fed authorizes a $180 billion expansion of swap lines with the ECB, BOJ, BoE, SNB and Canadian central bank.

- It is the first time the ECB, BoE and SNB offer overnight dollar funding. ECB and BoE says they will offer up to $40 billion each and the SNB up to $10 billion.

- The BoJ will introduce dollar supply money market operations for first time in its history, offering dollars from proceeds of a $60 billion swap agreement with the New York Fed.

- The Bank of Canada agrees a $10 billion swap agreement but says it does not plan to draw on it at this time.

- In addition the ECB pumps 25 billion euros into European markets.

- The Bank of England receives bids worth 202.32 billion pounds in its weekly open market operation for 66.21 billion.

- The Bank of Japan injects $24 billion of one-day cash into the Japanese market.

- The RBA adds A$3 billion, taking its total for the week to 11.2 billion.

- The Indian central bank supplies banks with 62.4 billion Indian rupees

- The Bank of Korea sells dollars in local swap markets.

- The Fed receives bids for $102.5 billion in $50 billion overnight operation, and banks bid for $63.75 in a $5 billion, 14-day repurchase agreement

(Compiled by Marc Jones; editing by Stephen Nisbet)



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