Euro Crisis Makes Fed Lender of Only Resort as Funding Ebbs

``Three years after the collapse of Lehman Brothers Holdings Inc., money-market borrowing rates for dollars are rising, leading the Fed and European Central Bank to make the currency available to Europe's institutions for as many as three months... "The Fed has made good on most of its investments over the years, but increasing its exposure and that of the U.S. government to foreign banks is a moral-hazard problem," said Edward Royce of California, the third most-senior Republican on the House Financial Services Committee. "We are effectively incentivizing U.S. money-market funds to continue to finance these banks." ''