For the US, economic recovery measures have so far revolved mostly around finding an answer to the mortgage crisis and falling housing prices that have put the banking sector and financial markets under severe pressure.

The Federal Reserve has opened up more than $400 billion in Treasury securities over past weeks through a variety of avenues to help struggling investment banks, hoping to avert a serious contraction in lending would almost certainly put greater strains on the economy.

"Orderly financial markets are critical to the health of our economy businesses rely on access to credit in order to invest and create jobs, and families draw on credit markets to finance their homes and borrow for education," Assistant Treasury Secretary Anthony Ryan said Wednesday.