Relevant:
- Commercial Paper Funding Facility (CPFF)
- Treasurys Drop on New Liquidity Facility
- ECB Deposit Facility Usage Hits Fresh Record At €362 Billion As Liquidity In Europe Worse Than Ever
- Fed European Swap Deal A Gambit To Head Off A Major Bank Failure?
- Get Used to Selloffs, Central Bankers Say as They Fret about the Terrifying Moment When Liquidity Evaporates | Wolf Street
2008-05-16 — nakedcapitalism.com
"The ECB has uncovered gambling in Casablanca. The central bank is shocked to learn that banks appear to be originating crappy assets solely for the purpose of dumping them in a liquidity facility intended to help them through a rough patch, not to provide an ongoing subsidy."
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