What the ECB said about funding action

The European Central Bank issued the following explanation for its part in a co-ordinated move to cut the cost of funding for European banks

30th November, 2011
What the ECB said about funding action
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The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster...

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