ECB, BoJ, BoE and SNB reduce Fed dollar liquidity operations

dollar tap

Four major central banks have reduced the frequency of their Fed dollar liquidity lines from daily to once a week, due to “low demand” and “improvements in US dollar funding conditions”.

The daily schedule of provisions were announced in response to banking turmoil last month as three US lenders collapsed and UBS took over Credit Suisse.

In a joint statement released April 25, the European Central Bank, Bank of Japan, Bank of England and Swiss National Bank said the operational change will

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