Roll-out banks $ 70B loan program
The program, participating banks which may, a cash infusion to a maximum of one third the size of all swimming pools. The size of the loan to increase the program could be regarded as “other banks are allowed to participate. “
All participants of the intention of banks to use this facility earlier this week, the statement said.
Banks the Bank of America Corp., Barclays PLC, Citigroup Inc., Credit Suisse Group, Deutsche Bank AG, Merrill Lynch & Co., Morgan Stanley and UBS.
Banks give the announcement to try to head off the market after the turmoil of possible failure of the investment bank Lehman Brothers Holdings Inc. Lehman was expected that the bankruptcy until & # 39; Monday after succumbing to the loss of investor confidence due to losses resulting from their Real Estate Investments.
Source More : CNN
