Fed and Other Top Central Banks Take Steps to Enhance Dollar-Swap Lines
Friday, 20 March 2020 21:28 WIB | FISCAL & MONETARY |The FedFederal Reserve

The Federal Reserve on Friday announced it was taking steps with five major central banks to enhance the dollar swap lines designed to make dollars available to foreign institutions.

In a statement, the Fed said the central banks would undertake daily 7-day maturity operations rather than weekly ones. The central banks will continue to hold weekly 84-day maturity operations.

The central banks of Canada, England, Japan and Switzerland will take part, along with the European Central Bank. Dollar funding market strain has played a major role in market turmoil, experts say.

Source : Marketwatch

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