Sunday 22 October 2017

Fed pumps $24.5bn into Depfa Bank

THE US Federal Reserve pumped $24.5bn (€17.1bn) into Dublin-based Depfa Bank during the Fed's two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans, Bloomberg said yesterday.

Depfa was taken over in 2007 by a German property lender and later seized by the German government.

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