Credit Market | featured news

U.S. officials on Tuesday gave 10 of the nation's biggest banks approval to pay back a combined $68 billion of taxpayer money pumped into them to combat the credit crisis.

Debt settlement companies claim they help both creditor and consumer by bridging the abyss between them, but the firms often manage to please no one.

The Fed dramatically increased the amount of money it will create out of thin air to thaw frozen credit markets.

The Federal Reserve is launching its much-awaited program aimed at boosting the availability of credit to consumers and small businesses.

The US Federal Reserve will launch its financing ­programme, worth up to $1,000bn, for consumer and business loans in the coming days, amid concerns that hedge funds might find it difficult to take advantage of the scheme.

The programme - the term asset-backed securities loan facility (Talf) - is the cornerstone of the US authorities' push to jump-start the credit market. Officials at the central bank say it will be up and running by the end of this month.