ECB intervenes in money markets
The ECB lent €94.8 billion ($129.8 billion) to ensure orderly conditions in the euro money market, saying that it intended "to allot 100% of the bids it receives" for short term cash to shore up liquidity.
The ECB's actions followed a jump in the eurozone's overnight borrowing rate to 4.7%, 70 basis points above the ECB's basic financing rate, after BNP Paribas
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