GO
Loading...

ECB Plans 40 Billion Euros Tender to Boost Liquidity

AP
Wednesday, 22 Aug 2007 | 10:45 AM ET

The European Central Bank, which has been pumping extra funds into European money markets for two weeks, said Wednesday it plans to auction supplementary three-month funds valued at 40 billion euros ($53.97 billion) to provide more liquidity to cash-starved markets.

The tender is scheduled for August 23 and will not hamper the bank of the 13-nation euro zone's regular call for bids of three-month funds on August 28.

The supplementary tender bid is lower than the 50 billion euros (US$67.46 billion) set for its regular three-month move.

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video