Enter multiple symbols separated by commas

ECB Injects More Money Into Bank System

The European Central Bank on Monday injected another 47.67 billion euros ($65 billion) into the banking system in a bid to soothe rattled credit markets, but said that market conditions are "normalizing."

European shares were rebounding Monday after sharp declines last week on because of global worries about dubious U.S. mortgages. Earlier Monday, Japan's central bank said it injected 600 billion yen ($5 billion; 3.6 billion euros) into money markets.

The ECB's one-day quick tender Monday was smaller than its previous injections of funds to banks 95 billion euros ($130 billion) last Thursday and a further 61 billion euros ($83.6 billion) on Friday. Those moves were made in conjunction with similar efforts by other central banks.

Accompanying Monday's operation, in which the ECB received 59 bids worth a total of 84.45 billion euros ($115.6 billion) was a calming note.

"The ECB notes that money market conditions are normalizing and that the supply of aggregate liquidity is ample," the ECB said. "With this fine-tuning operation, the ECB is further supporting the normalization of conditions in the money market."

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • In a rare menu test, Chipotle is testing a Chorizo Burrito, a spicy sausage made with chicken and pork, in its Kansas City restaurants.

    In a relatively a rare move for Chipotle Mexican Grill, Chipotle began testing a new menu item Tuesday.

  • A prototype of a Diebold bank branch of the future.

    Big banks are spending on futuristic branches, but it's all a waste of time and money, say financial technology experts.

  • Nouriel Roubini

    Nouriel Roubini explains how and why more economic liquidity may have led to "severe market illiquidity."

U.S. Video