In an effort to build up confidence in the world’s financial systems, a group of the world’s top central banks early this morning pooled together $180 billion to make sure banks have enough cash on hand.

The U.S. Federal Reserve made the cash available to central banks around the world to lend on to their local commercial banks in a bid to get dollars circulating in overnight and term money markets, Reuters reports. 

The breakdown included $110 billion for European banks, $60 billion for the Bank of Japan and $10 billion for the Bank of Canada. The move more than doubles the currency "swap line" available to the ECB and the Swiss National Bank, The Washington Post reports, and provides new lines to central banks in England, Canada and Japan.

Central banks including the Bank of England and the European Central Bank also lent out extra funds in their own currencies as markets teetered after news of bank takeovers and mergers on Wall Street. Russia is also going to pour another $20 billion into its market.

In other financial news today:

-Morgan Stanley and Wachovia are in talks about a merger. Shares of the two companies both rose before the bell on Thursday after news that the two had discussed a merger. Morgan Stanley shares increased about 2 percent to $22.40 from Wednesday’s close of $21.75, while Wachovia rose about 5 percent to $9.60 from its close of $9.12. Some news reports said CNBC was reporting that HSBC Holdings and China’s CITIC Group were also eyeing Morgan Stanley, Wall Street’s second-largest investment bank. The Government of Singapore Investment Corp (GIC) said it would consider all possibilities, including taking a stake if approached.

-Washington Mutual may be looking for a buyer. The firm has begun exploring a sale in the event that it cannot find some other way to raise additional capital, The New York Times reported. The company is working with Goldman Sachs to assess its options. Among the banks that have expressed interest are Wells Fargo, JP Morgan Chase and HSBC.

-Wall Street headed for a higher open Thursday after several days of downward trends that sent investors fleeing stocks. European stocks rose slightly Thursday after three days of losses, but Asian markets fell. News of Lloyds TSB PLC’s $21.8 billion deal to acquire struggling HBOS PLC, Britain’s biggest mortgage lender, eased some concern among traders there.

-The U.S. Securities and Exchange Commission tightened rules on traders who profit from stock declines to curb abusive short selling in major financial stocks. The measure, which takes effect Thursday, says short sellers and their broker dealers must deliver securities by the close of business on the settlement date, three days after the sale. Some lawmakers and executives want more investor protection to combat the practice.