Bank of Israel unveils actions to boost market function
Repo operations and asset purchases designed to tackle high volatility
The Bank of Israel is set to purchase assets and conduct repo operations in a bid to dampen volatility in markets triggered by the coronavirus.
The central bank said on March 15 it would purchase government bonds of “various types and maturities” in the secondary market, in the “necessary quantities” to ensure “smooth functioning of the market”.
The Bank of Israel will also offer repo operations to financial institutions, taking government bonds as collateral. It is launching a swap operation
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