Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 11 May 2012 [View all]xchrom
(108,903 posts)32. Japan Pledges Liquidity in Case of Global Emergency Arising
http://www.bloomberg.com/news/2012-05-11/boj-pledges-readiness-to-provide-foreign-currency-in-emergencies.html
Japans central bank pledged to deploy its foreign-exchange assets as part of any international emergency response to turmoil in financial markets.
Time may be necessary before international organizations and other relevant institutions are able to take necessary measures, the Bank of Japan said in a statement in Tokyo today. The bank would be prepared to provide foreign currency until international support is provided, it said.
The bank revised its guidelines for reserve management to take account of recent changes in international financial and capital market conditions. In 2008, the BOJ participated in Federal Reserve swap lines designed to address a surge in demand for dollars in the aftermath Lehman Brothers Holdings Inc.s collapse. Today, investors are monitoring for any signs of a Greek exit from the euro region that would roil markets anew.
Whatever their intentions, todays decision is likely to promote a risk-off mode among investors especially when there seems to be no real improvement in Greece, said Masaaki Kanno, chief Japan economist at JPMorgan Chase & Co. (JPM) in Tokyo and a former chief foreign-exchange dealer at the BOJ.
Japans central bank pledged to deploy its foreign-exchange assets as part of any international emergency response to turmoil in financial markets.
Time may be necessary before international organizations and other relevant institutions are able to take necessary measures, the Bank of Japan said in a statement in Tokyo today. The bank would be prepared to provide foreign currency until international support is provided, it said.
The bank revised its guidelines for reserve management to take account of recent changes in international financial and capital market conditions. In 2008, the BOJ participated in Federal Reserve swap lines designed to address a surge in demand for dollars in the aftermath Lehman Brothers Holdings Inc.s collapse. Today, investors are monitoring for any signs of a Greek exit from the euro region that would roil markets anew.
Whatever their intentions, todays decision is likely to promote a risk-off mode among investors especially when there seems to be no real improvement in Greece, said Masaaki Kanno, chief Japan economist at JPMorgan Chase & Co. (JPM) in Tokyo and a former chief foreign-exchange dealer at the BOJ.
Edit history
Please sign in to view edit histories.
105 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Gee, I wonder if this is related to the collapse of the crude speculation bubble?
Hugin
May 2012
#18
and, in the shadow of the Fed, a new era begins...Caesar's opens a new casino...
InkAddict
May 2012
#67
He'll feel better once Obama offers him the job at Treasury should he win in November
Roland99
May 2012
#53
I'm trying to advise folks around here to not go back to 'pesetas' ('pesos'). Rather: Maravedis:
Ghost Dog
May 2012
#101
I claim copyright violation! X, I WAS KIDDING! AND BESIDES, YOU DIDN'T WRITE IT!
Demeter
May 2012
#59
Regulators Looking Into JPMorgan Trading Activities Before $2 Billion Loss DITTO, DITTO
Demeter
May 2012
#79
JPMorgan Chase loss will be scrutinized, SEC's Mary Schapiro says DID WE WAKE YOU, MARY? SORRY...
Demeter
May 2012
#80
Watching Icon of the Left Eric Schneiderman Morph into Administration Water Boy Tom Miller
Demeter
May 2012
#83
Four Years After Wall Street Crash, Regulation of Financial Markets Is Still Spotty
Demeter
May 2012
#90