European Central Bank injects 70 billion euros into markets

FRANKFURT: The European Central Bank (ECB) said it injected 70 billion euros into money markets on Tuesday in the second operation of its kind in two days after the collapse of Lehman Brothers.

The one-day refinancing operation is intended to keep banks lending to each other after US investment banking giant Lehman Brothers filed for bankruptcy on Monday.

The operation follows a 30-billion-euro injection by the ECB on Monday and similar emergency actions by central banks around the world.