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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 379.91

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Nov 11 4:00 PM EST

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To: Seeker of Truth who wrote (41262)	10/13/2008 1:49:14 PM
From: elmatador	Read Replies (1) of 217694

Brazil to inject up to $45 billion in banks Bloomberg NewsPublished: October 13, 2008 BRASILÍA: Brazil said Monday that it would ease bank reserve requirements to inject as much as to 100 billion reais, or $45.5 billion, of cash into the financial system and unfreeze lending. Policy makers will free up the funds as needed, the central bank said in an e-mail today. The move will eliminate requirements on time deposits as well as so-called additional reserves for demand and time deposits that lenders must keep at the central bank, according to the statement. The measure follows three reductions in reserve requirements to free up 60 billion reais in the past three weeks. While Brazilian banks don't hold subprime mortgage assets that triggered the U.S. financial crisis, panic in the markets increased risk aversion and reduced funds available for smaller lenders. "The fact the central bank disclosed a new measure is a symptom that conditions remain adverse," Roberto Padovani, chief economist at Banco WestLB do Brasil in São Paulo, said. Brazilian policy makers last week tapped international reserves to prop up the currency and said they're ready to buy loans from lenders that may need cash. Today in Business with Reuters Nations coordinate bid to revive economies IMF prepared to aid HungaryStocks rise sharply after vows of new bank capital

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