The US Federal Reserve today added $19 billion of temporary reserves to the banking system through 3-day repurchase agreements to calm markets unnerved by widening fallout from losses in the subprime mortgage sector, according to a report by Reuters.The European Central Bank (ECB) today injected 61.1 billion euros ($83.7 billion) in three-day money into the market. The central bank, on Thursday, had injected 94.8 billion euros ($130.6 billion) at 4%. While Bank of Japan offered to supply one trillion yen ($8.45 billion), the Reserve Bank of Australia injected A$4.95 billion ($4.19 billion) today.
