FRANKFURT (Thomson Financial) - The European Central Bank said "tensions" exist in the euro money market despite the normal supply of liquidity in the euro area, and added that it is "ready to act" to ensure orderly conditions exist in the market.
"The ECB notes that there are tensions in the euro money market notwithstanding the normal supply of aggregate euro liqudity," it said in a statement to the financial markets.
"The ECB is closely monitoring the situation and stands ready to act to ensure orderly conditions in the euro money market," it added.