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Mar 26, 2008 

WSJ.com: ECB Pumps Extra Funds Into Europe Bank System - by Nina Koeppen and Emese Bartha

For the complete report from the WSJ.com click on this link

ECB Pumps Extra Funds Into Europe Bank System - by Nina Koeppen and Emese Bartha

The European Central Bank, responding to continued liquidity strains, pumped extra funds into the European banking system as part of a global effort to lift market confidence. The ECB allotted €216 billion ($333.12 billion) in seven-day funds in its regular weekly refinancing operation, or €50 billion more than the benchmark figure of €166 billion that the ECB thought was needed to help banks finance routine operations. The ECB also allocated $15 billion in dollar funding to European Banking system.

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