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House sidesteps Obama on Keystone XL
FRANKFURT, Germany, Feb. 29 (UPI) -- The European Central Bank said its emergency liquidity program loaned $713 billion to 800 banks, numbers that exceeded the banks' December loan bonanza.
In December, 523 banks participated in a low-interest loan program that put $655 billion into circulation, The New York Times reported Wednesday.
The latest round of borrowing involved collateral-backed loans at 1 percent interest with no limit set for the amount borrowed.
The terms also included extending the normal one-year duration to three years, a move intended to give banks and investors confidence the liquidity in the financial system will not evaporate soon.
The bank has not said whether a third round of lending would be made available. The latest program was offered, in part, to offset a tighter capital market that is expected due to the $170 billion bailout of Greece.
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MOSCOW, May 24 (UPI) --
Russia's decision to suspend its use of an Azerbaijani oil pipeline isn't the result of political tensions, Foreign Minister Sergei Lavrov says.
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MANILA, May 24 (UPI) --
The Philippines is determined to spend $1.8 billion on military upgrades -- mostly naval -- to protect the country against "bullies" in its territorial waters.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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