ECB taking lower quality collateral vs USD lending

[Skip to the end Trichet urges banks to lend after recovery begins (Update2) By Simon Kennedy and Anne-Sylvaine Chassany Trichet acknowledged his own central bank had taken on risk by boosting liquidity and accepting lower-rated securities as collateral for loans. ``We're taking risks and we've made decisions that increased our risks, because we were facing a systemic liquidity crisis [...]