Hours before the House vote, the Fed said it will flood banks with cash, pumping an additional $630 billion into the global financial system. The Term Auction Facility, the Fed's emergency loan program for commercial banks, will expand by $300 billion to $450 billion.
The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide, showing further coordination with counterparts including the European Central Bank, the Bank of England and the Bank of Japan.
