The world's top central banks said on Sunday they would start offering daily loans in dollars to their banks to avert stress in the funding market after the emergency rescue of Swiss giant Credit Suisse Group AG .
Trouble at Credit Suisse - one of the world's largest banks - sent shock waves through global markets last week, raising fears of a new financial crisis and threatening to derail central bankers' efforts to tackle high inflation.
This signals the depth of concern central bankers have over the recent turmoil in the financial system on both sides of the Atlantic, with Credit Suisse coming under market pressure last week after the collapse of two U.S. banks. At least two major banks in Europe are examining scenarios of contagion possibly spreading in the region's banking sector and looking to the Fed and the ECB to step in with stronger signals of support, two senior executives with knowledge of the deliberations told Reuters.
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