Dutch banks borrowed heavily from Fed

Dutch banks had loan guarantees with the Federal Reserve during the financial crisis of 2009, press agency Bloomberg reported on Monday evening.

The American central bank made 26.3bn dollars available to the Belgian-Dutch bank Fortis. The Rabobank agreed a loan of up to 9.1bn dollars, but said it only borrowed 7bn.
ABN Amro had loan agreements of a maximum 1.5bn dollars and ING of up to 8.6bn.
There is heavy criticism in the US about the loan guarantees, not least because they encourage banks to take risks knowing they can always call on help from the Fed.
Fortis and ABN Amro were nationalised during the financial crisis, and ING received state aid of €10bn.