the European Central Bank poured 442 billion euros (375.6 billion pounds) of one-year funds into money markets

Seeking to spur bank lending and pull the economy out of recession, the European Central Bank poured 442 billion euros (375.6 billion pounds) of one-year funds into money markets on Wednesday, its biggest fund injection ever.
The massive loan, the central bank's first money market operation with a term as long as one year, immediately pushed some bank-to-bank borrowing costs to fresh record lows.
That, the ECB hopes, may give banks enough financial security for them to make more long-term loans to companies and consumers.
A record 1,121 banks rushed to take up the ECB's offer of umlimited funds at a fixed rate of 1 percent, betting they might not see such cheap money again. Recent data suggests the euro zone economy may start a slow recovery late in 2009, making the ECB unlikely to cut interest rates further.

the European Central Bank poured 442 billion euros (375.6 billion pounds) of one-year funds into money markets