The European Central Bank, the Bank of England, the U.S. Federal Reserve and the Swiss National Bank have, through their reciprocal currency agreements, have decided to provide further U.S. liquidity in a one week refi operation . The purpose of this operation is to address and ease funding pressures...
U.S. Federal Reserve Chairman Ben Bernanke , European Central Bank President Jean-Claude Trichet , and former central bank officials and head economists all met in Jackson Hole, Wyoming over the weekend, one year after the start of the financial crisis that has led to more than $500 billion in losses...