FACTBOX: Global central bank money market moves this week
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.
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. Continued...
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