per Reuters:-
The Federal Reserve Bank of New York said that it has delivered $50 billion to money markets via overnight repurchasing agreements, or repos, and that it "stands ready to arrange further operations later in the day, as needed." In addition, the Fed said it also will conduct its usual Tuesday morning $20 billion, 28-day single-tranche repo.
Earlier, the European Central Bank injected 70 billion euros, or nearly $100 billion, in one-day funds into European money markets, more than doubling the 30-billion-euro injection the ECB announced Monday. Additionally, the Bank of England, the Bank of Japan and the Swiss National Bank all delivered extra funds to markets.
"This is smacking of desperation, which is why the markets aren't reacting very well," says Paul Nolte, director of investments with Hinsdale Associates. "When you're levered up, it takes a hell of a lot of money to get unlevered and make it worth anything. Now we're not just adding our liquidity, we're asking banks from around the world to add their liquidity."
Not per Reuters:-
Recently confirmed Zimbabwean president RG Mugabe has apparently offered to help tackle the growing problem with "several boxes of billions" of his own currency, available to senior US and UK bankers who ask nicely.
