The Federal Reserve and the European Central Bank announced they had lent a total of $30bn in 35-day funds over the past 48 hours, ending a frantic week of central bank activity that appears to have eased fears of a year-end funding crisis.

The ECB on Friday allotted $10bn (€7bn, £5bn) in funds to eurozone banks in its second dollar tender – which was made possible by a currency swap with the Fed.