Frankfurt: European central banks offered another $120 billion (Dh440.8 billion) in overnight cash to markets yesterday, in an effort to keep a strained financial system flush with cash. The European Central Bank (ECB) offered $100 billion, the Bank of England (BoE) $10 billion, and the Swiss National Bank $10 billion. The ECB's and the BoE's offers mature on Monday. The SNB did not post details of its offers in the morning. The short term liquidity offers are similar to those in past weeks and the banks will post more details on the offering later in the day. The central banks have been offering cash to markets on an almost daily basis for in recent weeks as the financial sector has become wary of lending to anyone - including other banks - and credit has become more scarce as a result. Spain...
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