Daily Dispatches

Daily bank borrowing from Fed rises to $438 billion

Submitted by cpowell on Thu, 2008-10-16 22:54 Section: Daily Dispatches

Governments Step Up Credit Fight; Banks Line Up at Fed

By Jamie McGeever and Richard Leong
Reuters
Thursday, October 16, 2008

http://www.reuters.com/article/gc06/idUSTRE49F9H220081016

LONDON -- Most interbank lending rates fell on Thursday in the wake of more steps by central banks to provide funds, improve bank balance sheets, and open up credit lines to cash-strapped institutions.

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Fears of Lehman's CDS derivatives haunt markets

Submitted by cpowell on Thu, 2008-10-16 22:43 Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Friday, October 17, 2008

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/321164...

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Huge demand fills Zurich bank's gold ETF vault

Submitted by cpowell on Wed, 2008-10-15 15:33 Section: Daily Dispatches

By Rachel Graham
Bloomberg News
Wednesday, October 15, 2008

http://www.bloomberg.com/apps/news?pid=20601085&sid=aC3aEDKR2XPs

Zuercher Kantonalbank, the Swiss lender that manages about $107 billion, said its gold vault is full after a surge in demand from investors seeking a haven during the credit crunch.

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Daniel Gschwend: Time running out for gold manipulation

Submitted by cpowell on Wed, 2008-10-15 11:09 Section: Daily Dispatches

11:08a ET Wednesday, October 15, 2008

Dear Friend of GATA and Gold:

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U.S. Government could guarantee $2 trillion for banks

Submitted by cpowell on Tue, 2008-10-14 20:52 Section: Daily Dispatches

By Marcy Gordon
Associated Press
via Yahoo News
Tuesday, October 14, 2008

http://biz.yahoo.com/ap/081014/fdic_bank_guarantees.html?.v=3

WASHINGTON -- The government may guarantee nearly $2 trillion in U.S. banks' debt and deposit accounts for more than three years in an effort to break the crippling logjam in bank-to-bank lending.

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Trillions out the door, ECB chief urges 'discipline'

Submitted by cpowell on Tue, 2008-10-14 20:18 Section: Daily Dispatches

Trichet Urges Return to 'Discipline' of Bretton Woods

By John Fraher and Gabi Thesing
Bloomberg News
Tuesday, October 14, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6_H1g.7y7AU&refer=home

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Unlimited dollars available to Japanese banks

Submitted by cpowell on Tue, 2008-10-14 18:01 Section: Daily Dispatches

Bank of Japan Offers Unlimited Dollars to Banks

By Mayumi Otsuma
Bloomberg News
Wednesday, October 15, 2008

http://www.bloomberg.com/apps/news?pid=20601080&sid=adK4MaqnHpnU&refer=asia

TOKYO -- The Bank of Japan said it will offer lenders as many dollars as they want, joining European counterparts in attempting to lower borrowing costs in money markets and freeing up credit worldwide.