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- The ECB is at it too
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They are all at it; the Fed, the Bank of England and the ECB. All of them are using the asset side of their balance sheet to swap their high quality paper for rubbish owned by the commercial banks.The chart above tracks changes in the balance sheet of the ECB. The green line - long term refinancing operations picks up the commercial bank assets the ECB has picked up since the credit crisis began….
Original Source: bp1.blogger.com
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4 May, 2008| housingblogs |
@ 9:38
