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Can someone please explain to me why the ECB has injected $500B whereas the Fed has only injected $20B over the past two weeks? It would have made more sense the other way around, unless it's a European bail-out of the US financial system (through European banks with heavy exposure to US)...
by vladimir on Wed Dec 19th, 2007 at 02:02:34 AM EST
Not sure, but I think the Federal Homes Loan Board - a sort of Coop of banks - has been busily pumping in the dollars.....

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Wed Dec 19th, 2007 at 03:02:27 AM EST
[ Parent ]
Maybe the Euro has already replaced the dollar as the world's reserve currency.

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Wed Dec 19th, 2007 at 03:20:49 AM EST
[ Parent ]
Exactly what I was thinking....

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Wed Dec 19th, 2007 at 04:47:15 AM EST
[ Parent ]
made its intervention immediately public, whereas the Fed will announce what happened on Londay in the course of today.

Plus, the Fed provides normal liquidity as well, there were headlines just because of the unusual procedure this time - and, as it happened in the European timezone, US banks took advantage of the available offer right away too.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Dec 19th, 2007 at 05:41:02 AM EST
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