The Asian, European and American central banks announced the multiplication of the amounts of their agreements of swap in order to increase the liquidities.
The ECB and Switzerland doubled their swap to carry them respectively to 240 billions and 60 billions of dollars. The Swiss central bank declared that "it will spread, so necessary, in a flexible manner his/her/its calls of offers for pensions of titles against dollars of the United States", underlining that the "length of the agreement of swap has been prolonged until end April 2009."
The Fed increased of 330 billions of dollars the lines of credit with eight central banks to carry them to 620 billions of dollars.
The easiness of refinancing brought to the commercial banks are going to be improved also. Dice October 6, the refinancing to 84 days is going to be tripled. These various injections of liquidities and refinancing have been decided in a context of crisis in Europe and to the United States, where the state is solicited.
Sunday evening, the Fortis bank has partially been nationalized, the Dutch Belgian states and luxembourgeois bringing 4,7, 4,5 and 2,5 billions of euros.
The German bank of financing real estate Euro Hypo Estate has been sustained by the government and a syndicate of bank in height of 35 billions of euros, Monday. She/it is in difficulty following the bad operations of his/her/its Irish subsidiary, Depfa. The German public banks also know some problems. The bank English Bradford & Bingley has been nationalized in part. The Citigroup bank also purchased the banking activities of Wachovia with the support of the committed FDIC in the business.
Leave a Comment
|