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WireTap 1400 02/03/12

A round-up of the key stories across the specialist financial media, including news that 25 EU states have signed a pact promising greater budget discipline.

Pact for budget discipline signed by 25 EU states 

All but two European Union countries signed a treaty on tighter budget discipline for the euro zone on Friday, marking a coup for Germany which pushed for the accord to try to prevent a repeat of the loose spending that led to debt crisis.

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Banks deposit record cash with ECB

The amount of cash deposited by eurozone banks overnight at the European Central Bank hit a record on Friday, coming just two days after financial institutions took advantage of an offer of unlimited cheap loans.

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Barclays, in change of tack, taps ECB

Barclays tapped the European Central Bank for €8.2 billion in low interest loans, a move that underscores how the ECB's program to flood the market with cheap money is winning over even the most reluctant banks.

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U.S. stock futures fall; S&P 500 may pare gain

U.S. stock-index futures dropped, indicating the Standard & Poor’s 500 Index will pare this week’s advance, as Spain’s prime minister said that the country’s budget deficit in 2012 will be wider than its target.

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SEC accounting of record enforcement year in 2011 doesn’t add up

U.S Securities and Exchange Commission officials have been citing a jump in the number of enforcement actions last year as proof that an overhaul of the agency’s investigative force is bearing fruit. The claim isn’t supported by a detailed examination of the statistics.

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