HOME   NEWS   SPECIAL REPORT   PHOTO   COMMENTARY   VOICE   LEARNING CHINESE
NEWS > Business
Fed pumps 47.25 bln dlrs into US banking system
2007-11-15 07:56:47 AFP

WASHINGTON, Nov 15, 2007 (AFP) - The Federal Reserve injected 47.25 billion dollars into US money markets Thursday to help ease tight liquidity, the central bank said.

The Federal Reserve Bank of New York said it had injected the money in three separate operations: 19.25 billion dollars in a one-day operation, 20 billion dollars in a six-day operation and eight billion dollars in a 14-day operation.

The US central bank typically buys billions of dollars worth of securities from major banks, pumping extra cash into the banking system, which the banks are obliged to repurchase at a later date.

The New York Fed, which conducts the operations, has injected hundreds of billions of dollars into the financial system since early August, when credit flows seized up due to problems linked to the distressed US mortgage market.

MORE NEWS
Asian stocks close mostly down amid profit-taking  
Chinese vice premier urges more spending on farm infrastructure  
China's industrial output up 17.9% in Oct.  
WB maintains China's 11.3% GDP growth forecast in 2007  
Space squeeze likely to raise Shanghai retail rents by 10-12%  
Capital sought for expansion  
HK stocks surge on US results  
Foreign food firms keen to bite into huge market  

SINA English is the English-language destination for news and information about China. Find general information on life, culture and travel in China through our news and special reportsˇAor find business partners through our online Business Directory. For investment opportunities with SINA, please click the link "Investor" below.
| About SINA | Investor | Media Kit | Comments or Question? |
Copyright © 1996-SINA Corporation, All Rights Reserved