Originally published by the Voice of America (www.voanews.com).
Voice of America is funded by the US Federal Government and content it
exclusively produces is in the public domain.
August 13, 2007

Central Banks Continue Campaign to Reassure Financial Markets
-------------------------------------------------------------

http://enews.voanews.com/t?ctl=1898442:A6F02AD83191E160C3CD29CC398963249574F7DCC14957C0 Move meant to
counter worries about credit crunch caused by dramatic drops in stock
prices in volatile trading last week





Major central banks continued their campaign to reassure financial
markets Monday, after worries about a credit crunch caused dramatic
drops in stock prices in volatile trading last week.

The latest effort is by the European Central Bank, which made another
$65 billion available Monday. The ECB, the U.S. Federal Reserve,
Japan's central bank, and other institutions have together injected
more than $300 billion into the financial sector over the past few
days.

European stock indexes rose strongly Monday while Japanese share
prices were slightly higher at the close of trading.

Stock prices had fallen dramatically around the world last week over
concerns that losses in the U.S. "sub-prime" mortgages would force
banks to curtail credit. Investors worried that less lending would
hurt economic growth and profits.

The central banks are boosting access to credit by increasing the
amount of money available for lending.


.