Reply #1: Here's a little more information, from the WSJ: [View All]

[MineralMan]

http://online.wsj.com/article/BT-CO-20110915-709552.html

"Before the open of trading, the European Central Bank said it had decided in coordination with the U.S. Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank to conduct three dollar-liquidity operations with a three-month maturity covering the end of the year. The moves will be carried out as fixed-rate repurchase obligations against eligible collateral, the ECB's statement said.

Investors cheered the move, putting the market on track for its fourth-straight winning session, even though it was a tacit admission that banks are in need of coordinated aid as they struggle to meet their funding obligations."

As for what it means, I'm not entirely sure. I'm not a financial wizard in any way. However, it caused the DJIA to jump higher, so it must be good news in some way.