SNB introduces new liquidity provision framework
Reformed facility will be less “emergency” in nature and accept broader pool of collateral
The Swiss National Bank (SNB) has unveiled details of the plan to reform its liquidity provision framework, which it says will offer greater flexibility in accessing funding and broaden the pool of eligible collateral.
Speaking at an event in Geneva on April 29, Antoine Martin, the bank’s vice-chair, introduced the new extended liquidity facility (ELF). This, he said, would encompass the existing emergency liquidity assistance (ELA) framework and a new provision channel that would be more
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