ECB emergency fund tapped for €3.9bn

The European Central Bank’s emergency lending fund, which attracts a penal interest rate, was tapped on 26 September 2007 for €3.9bn, the largest sum since October 2004, the Frankfurt-based institution revealed 27 September 2007.

ECB: Speech, 27.9.07: The financial market turmoil, the European economy, and the role of the European Central Bank http://www.ecb.int/press/key/date/2007/html/sp070927_1.en.html

ECB: Monetary Policy: Instruments: Standing facilities http://www.ecb.int/mopo/implement/sf/html/index.en.html

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