March 19, 2023 21:23 GMT
Coordinated Central Bank Action To Enhance The Provision Of U.S. Dollar Liquidity
The Fed and key central banks announced a coordinated effort to boost USD liquidity a short while ago.
"The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.
To improve the swap lines' effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily. These daily operations will commence on Monday, March 20, 2023, and will continue at least through the end of April."
Full link here.
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