Go The Japs!!!
Bank of Japan Pumps 2 Trillion Yen Into System on Greek Crisis
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By Saburo Funabiki
May 7 (Bloomberg) -- The Bank of Japan said it will pump 2 trillion yen ($21.8 billion) into the financial system after the Greek debt crisis caused instability in financial markets in the U.S. and Europe.
The emergency measure represents the banks first same-day repurchase operations since December. The balance of current- account deposits held by financial institutions at the central bank will likely increase to 16.9 trillion yen, up 800 billion yen from yesterday, the central bank said.
To contact the reporter on this story: Saburo Funabiki in Tokyo at [email protected].
Last Updated: May 6, 2010 21:06 EDT
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