Fed Extends Aid to Foreign Banks - 0 views
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Veldey J on 14 Dec 12The Federal Reserve and four other central banks announced that they will be extending the program that keeps borrowing costs cheap for foreign banks that want to deal in United States dollars.This is to try to lower the cost of shprt term borrowing.This program was only supposed to be extended to February 2013 but got extended to February 2014.This was worked out with many European central banks.The bank of Japan is still deciding if they are extending the program as well.