Banking Superfund Starts To Take Shape

Banking Superfund Starts To Take Shape

The three biggest banks in the nation--Citigroup, Bank of America, and J.P. Morgan Chase--have agreed on the structure of a $75 billion fund intended to prop up troubled short-term commercial debt, according to several reports.

With an agreement in place, the three can now start signing up other banks over the next 10 days, David Wighton in the Financial Times reports.

Eric Dash in the New York Times says the question now is whether the super fund will actually help.

Not much, according to analysts and investors cited by the New York Times.

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