ECB injects more cash into banking system

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    BERLIN, Aug. 21 (Xinhua) -- The European Central Bank (ECB) injected again on Tuesday more funds into Europe's banking system through its regular weekly refinancing operation to help ease the pressure on the eurozone banks.
    The Frankfurt-based ECB said it had allotted 275 billion euros (around 370.8 billion dollars) in one-week funds with the allocation coming against the backdrop of continuing uncertainty in global financial markets caused by the crisis in the U.S. housing market.
    Tuesday's allocation was 46 billion euros more than the ECB itself said banks needed for their business operations, according to German news agency DPA.
    However, the allotment was lower than the ECB's tender last week, when it handed out 310 billion euros.
    The ECB move also coincided with another round of attempts by central banks to shore up investor confidence with the Bank of England saying Tuesday it had lent 314 million pounds (622.3 million dollars) to one institution.  
               
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