- Goldman Sachs Head Says Banks Do 'God's Work'
- Fed's Bullard: Tighten Only When Recovery's 'Solid'
- Bankers Are Like Domino's Pizza Franchises: Expert
- Kraft to Formalize Hostile Cadbury Bid on Monday
- GE, Comcast Agree on NBC Universal Valuation
- Hottest Zip Codes for Home Prices
- US Home Values Follow Sales Higher, For Some
- China Urges US to Control Deficit to Stabilize Dollar
- US Health Care Reforms Face Tough Path in Senate
- Tamminen: Why Does Oklahoma Want To Drown New York?
- Food Network, HGTV Drive Scripps Networks' Upside Surprise
- Tommy Lee, Medical Tourism and Nasty Santa, Your Emails
- U.S. Markets Gain 3% for the Week Despite 10.2% Unemployment
- Disney's 'Carol' Tests Widest 3-D Release Ever
- Stimulus II? Jobs Tax Credit=Cash For Clunkers
- Rockwell Automation Earnings: What Options Are Saying
- Gold Will Touch Higher Lows and Higher Highs: Analyst
- Is Misery Alive And Well in Your Office?
MOST SHARED
- US Becomes Top Country Brand Under Obama: Survey
- BofA Board in Civil War Over Lewis' Succesor
- Kraft to Formalize Hostile Cadbury Bid on Monday
- What Stocks to Buy Amid Health Care Overhaul: Strategist
- Obama Delays Start of Asia Trip to Attend Memorial
- Sweeping Health Care Overhaul Bill Passes House
- GE, Comcast Agree on NBC Universal Valuation
- Framed for Porn – By a PC Virus
Text Size 
The European Central Bank made a second move to boost liquidity in the financial market Friday, putting 61.05 billion ($83.6 billion) into the euro money markets, having already injected 94.8 billion euros Thursday.
The central bank set a tender for 3-day variable-rate securities Friday morning, and said accepted 100% of bids at a marginal rate of 4.05% and higher. The average weighted rate of the securities was 4.08%.
Sixty-two banks bid a total of 110.035 billion euros ($150.62 billion), compared to 49 banks which bid on Thursday at a rate of 4%, Reuters reported.
"The liquidity-providing fine-tuning operation follows up on the operation conducted yesterday and aims to assure orderly conditions in the euro money market," the ECB said on its official Web site.
The start date for the securities is Aug. 10 and they expire on Aug. 13. The 94.8 billion euros of securities issued by the ECB on Thursday mature on Friday, the central bank said.
The unprecedented move to ease lending from the governing council comes during an interest-rate tightening cycle for the European Union.
"There is a credit shortage ... what you have to do is cut interest rates," Roger Nightingale, economist at Millennium Global Investments, told CNBC.com, adding that the ECB and Fed "raised rates too late in the period of growth."
The seizing up of corporate credit "has to be psychological," as "money supply is high and growing rapidly … there should be loads of liquidity out there," Nightingale added.
Print
Email
- Rumors abound that Oprah will leave her show to start a new network. What would this mean for daytime TV?
- A private equity specialist sponsored a stand-up comedy troupe in New York to prove that CEOs can, in fact, be funny.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- Did Hideki Matsui’s performance make it more likely that the Yankees will pay to have him back?
- Which wines should you bring—or serve—with holiday meals this year? Ask a connoisseur.
- Two competitors in this year’s World Series of Poker in Las Vegas have stories fit for Hollywood.
Data is a real-time snapshot *Data is delayed at least 15 minutes