The main central banks will guarantee liquidity in dollars until the end of April
The ECB has announced a coordinated action with the Bank of Canada, the Bank of England, the Bank of Japan, the Federal Reserve (Fed) and the Swiss National Bank to provide liquidity through foreign exchange facility arrangements.
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The main central banks will offer liquidity in dollars for seven days in operations daily from today until the end of April.
The European Central Bank (ECB) announced yesterday a coordinated action together with the bank of canadathe Bank of Englandthe Bank of Japanthe Federal Reserve (fed) and the Bank Swiss National to provide liquidity through agreements of lines of currency exchanges in dollars.
“To improve the effectiveness of the ‘swap’ lines —a support mechanism between banks— in providing financing in dollars, the central banks that already offer these operations have decided to increase the frequency of operations with a maturity of seven days from weekly to daily “, the ECB has reported in a statement.
The entity headed by Christine Lagarde praised the rapid intervention of the Swiss authorities in favor of financial stability by endorsing the takeover of Credit Suisse by its competitor UBS.
Source: Eitb
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