The European Central Bank said on Tuesday it provided 25 billion dollars to the money markets at a fixed interest rate of 2.10 percent in an operation in concert with the US Federal Reserve.
Bids for the 28-day funds totalled 58.88 billion dollars with the total number of bidders 54.
The operation is part of a series of steps to provide liquidity to encourage lending between banks in the wake of the US subprime mortgage crisis and an ensuing credit crunch.
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