Aside from the central bank's offer to let the mortgage buyers borrow funds if necessary, the rescue proposals outlined by Treasury Secretary Paulson on Sunday require congressional approval.
Purchased and funded in advance, funds from the policies can smooth out cash flows and offer flexibility in determining whether to borrow, pay cash or otherwise arbitrage available capital.
People who could previously borrow on the strength of their relationships must now offer something solid, like the 100g gold bar commemorating the Beijing Olympics that is for sale in the lobby.
Although the ECB has essentially made an offer of unlimited funds, banks are still constrained in how much they may borrow by the quality of the collateral that they are able to hand over.