" In one potentially positive sign the amount of reserves
held by foreign banks at the U.S. Federal Reserve rose in the
latest week, stemming a decline that has seen about $131
billion withdrawn in the previous two weeks. Foreign banks have built up a healthy buffer of dollar
reserves at the Fed, which in addition to liquidity offered by
swap facilities instituted by central banks, has reduced some
concerns that banks face the same risk of collapse as in 2008. Investors will now closely watch the next Fed release, due
on Friday, for further signs of whether deposits have
stabilized, or are continuing to fall."
http://www.reuters.com/article/2011/...77L0L120110822
Looking for silver linings !!
Actually the entire article is worth a quick read