Fed Joins with European Banks to Battle Credit Crisis

By: Associated Press Email
By: Associated Press Email

Washington (AP) The Federal Reserve in coordination with European Central Banks says it will expand a series of efforts to deal with a global credit crisis.

The Fed announced today that it's boosting the amount of emergency reserves it supplies to U.S. banks to 150 billion dollars this month. That up from the 100 billion it supplied in April. The fed took the action and several other moves to bost credit in coordination with the European central bank and the Swiss National Bank.

The latest action is part of a series of moves the Fed has made since a severe credit crisis struck last august.

KKCO NBC 11 News
2531 Blichmann Avenue
Grand Junction, CO 81505

Station Phone: 970.243.1111
Business Fax: 970.243.1770
Newsroom Fax: 970.245.3793
News Tip & Contest Line: 970.255.8477
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 18485894 - nbc11news.com/a?a=18485894
Gray Television, Inc.