By Steven R. Weisman The Federal Reserve announced new steps Friday to help ease tight global credit markets by increasing the size of its cash auctions to banks and allowing financial institutions to put up credit card debt, student loans and car loans as collateral for Fed loans.

WASHINGTON _ In a joint move with European central banks to ease the grip of a dangerous credit crunch, the Federal Reserve unveiled a new plan Wednesday to pump billions of dollars into tight-fisted U.S. banks so they will be more willing to lend to people, businesses and each other.

BERN, Switzerland - The Swiss National Bank said Thursday it will sell 276 US tons of gold reserves over the next two years. The sale would fetch about $5.2 billion (euro3.9 billion) at current prices.