Two special liquidity programs run by the US Fed and the European ECB have shown no increases in activity since last week's press reports of a debt restructuring required by a Dubai based investment company.
The US Fed held a 40-day TAF auction on Monday that went for $16B out of a maximum of $25B offered. The ECB held it's usual weekly USD auction this morning that went for a recent low of just $11B out of the regular unlimited amount they offer.
As the amounts indicated in these auction results are still falling, it looks like any credit market disruptions in Dubai have not driven any institutions to access these short term central bank USD liquidity programs.
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