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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 24 January 2014 [View all]xchrom
(108,903 posts)11. CENTRAL BANKS TO WIND DOWN DOLLAR LENDING
http://hosted.ap.org/dynamic/stories/E/EU_CENTRAL_BANKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-01-24-05-32-04
FRANKFURT, Germany (AP) -- The European Central Bank said Friday that it and three other major central banks will wind down their dollar-lending operations amid improving market conditions.
The ECB, along with the Bank of England, the Bank of Japan and the Swiss National Bank, plans to stop lending dollars to banks for three-month periods at the end of April.
The ECB said the step was taken "in view of the considerable improvement in U.S. dollar funding conditions and the low demand for U.S. dollar liquidity-providing operations." In other words, banks are getting by fine without having to tap the central banks for loans denominated in dollars.
The central banks will continue lending dollars over one-week periods until at least July 31. The ECB says it will address "in due course" whether such operations need to continue.
FRANKFURT, Germany (AP) -- The European Central Bank said Friday that it and three other major central banks will wind down their dollar-lending operations amid improving market conditions.
The ECB, along with the Bank of England, the Bank of Japan and the Swiss National Bank, plans to stop lending dollars to banks for three-month periods at the end of April.
The ECB said the step was taken "in view of the considerable improvement in U.S. dollar funding conditions and the low demand for U.S. dollar liquidity-providing operations." In other words, banks are getting by fine without having to tap the central banks for loans denominated in dollars.
The central banks will continue lending dollars over one-week periods until at least July 31. The ECB says it will address "in due course" whether such operations need to continue.
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Surveillance and Scandal Time-Tested Weapons for U.S. Global Power By Alfred McCoy
Demeter
Jan 2014
#6
It hasn't gottten any easier, either. And DEFINITELY not any fairer or equitable.
Demeter
Jan 2014
#22