Business Standard

US markets get a big boost from Fed scheme

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BS Reporter Mumbai
 The US Federal Reserve announced that along with the European Central Bank and the central banks of Canada and Switzerland, it would loan investment banks money in exchange for debt, including mortgage-backed securities. 

 This move will provide banks an access to $200 billion and bring much needed liquidity for the ailing banking system as banks can borrow against securities where buyers have dried up.

  

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First Published: Mar 12 2008 | 9:00 AM IST

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