Why is the Fed pumping money into the banking system? bbc.com

The US central bank has pumped more than $200bn (£160bn) into the financial system this week – the first time there's been such an intervention since 2008.

The Federal Reserve's aim was to stabilise what is usually a calm part of the market.

Interest rates in the so-called "repo market" had shot up to 10% in some cases – although the cost of borrowing in that market more typically hovers around the benchmark rate set by the Fed – around 2%.