CALDEIRÃO DE BOLSA

Trichet diz que medidas da Fed e do Tesouro são "bem-vindas"

Jean-Claude Trichet, presidente do Banco Central Europeu (BCE), afirma que continua em «alerta» perante a forte instabilidade nos mercados financeiros e mostra-se agradado com o plano anunciado pela Reserva Federal dos EUA (Fed) e o Departamento do Tesouro norte-americano. «Continuamos todos muito, muito alerta, e penso que o que tem vindo a ser feito e em particular o que foi anunciado é certamente bem-vindo do nosso ponto de vista», afirmou o responsável pela autoridade monetária da Zona Euro em declarações à Bloomberg.Os bancos centrais voltaram, recentemente, a coordenar operações de injecção de liquidez nos mercados, de forma a tentar aliviar as tensões nos mercados de crédito mundiais que ditaram a falência de várias instituições e «forçaram» a consolidação no sector financeiro.A crise que infectou os mercados accionistas obrigou também a intervenções governamentais para evitar agravar a turbulência nos mercados. A Fed «salvou» a AIG, depois do Governo dos EUA ter nacionalizado a Fannie Mae e a Freddie Mac, dias antes.Ontem, e dado o fraco resultado de novas injecções de liquidez nos mercados, a Fed e o Departamento do Tesouro dos EUA anunciaram que vão avançar com a criação de uma agência estatal que irá injectar dinheiro nas companhias financeiras norte-americanas com problemas, em troca de acções.A medida está a provocar uma forte recuperação nos mercados accionistas. Muitos índices europeus registam valorizações recorde. Lisboa segue com um ganho de mais de 7%, a maior subida desde que foi criado o PSI-20, enquanto as praças americanas avançam cerca de 2%.

2008/09/19 - 15:18
Fonte: Jornal de Negócios

US Launches Broad Rescue Of Financial Markets

Topics:Henry Paulson | Banking

Sectors:Financial Services | Banks

CNBC.com | 19 Sep 2008 | 09:42 AM ET

Font size: The U.S. government launched several multibillion-dollar programs to guarantee holdings in money-market mutual funds and curb short-selling while developing a more sweeping plan to mop up toxic mortgage debt, sending global markets sharply higher on Friday.

U.S. stocks clocked their biggest percentage gain in six years late Thursday, powering a rally in the dollar and pushing oil prices higher, and on Friday Asian and European markets picked up where New York's left off.

The price of gold and government bonds, traditional safe havens in times of turmoil, both slipped back.

U.S. officials rushed to shore up ailing money markets after signs that this long-safe corner of financial markets, home to some $3.5 trillion of deposits, was at risk of falling victim to the year-old credit crunch and bring the crisis to Main Street.

The U.S. Treasury Department said it would use $50 billion to back money market mutual funds whose asset values fall below $1 a share.

Separately, the U.S. Federal Reserve said it would lend even more money directly to financial institutions so they could purchase certain assets from money market funds.

The latest government efforts come after the credit crisis, which had largely been seen as problem for Wall Street risk takers, threatened to spill over into Main Street after some super-safe money market funds buckled.

"For the next year, the U.S. Treasury will insure the holdings of any publicly offered eligible money market mutual fund -- both retail and institutional -- that pays a fee to participate in the program," the Treasury said in a statement.



President Bush approved use of the Exchange Stabilization Fund to guarantee payments, Treasury said.

The fund, which traces its roots to the Gold Reserve Act of 1934, allows the Treasury to conduct various transactions with the Treasury secretary's authorization.

The surprise moves comes as the Treasury and the Federal Reserve consider broad government intervention to prevent the collapse of the financial system, shaken in rece fallen to near zero earlier in the week as investors panicked and rushed for the safety of government securities after the oldest U.S. money market fund "broke the buck," or fell below $1 net asset value.

The dollar, meanwhile, rose to a one-week high against the Japanese yen as investors regained an appetite for risk amid all the steps being taken to address the credit crunch.

The Treasury said concerns about the net asset value of money market funds falling below $1 have exacerbated global financial market turmoil and caused severe liquidity strains in world markets.

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