The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced a coordinated effort to enhance the provision of liquidity through their standing U.S. dollar liquidity swap lines, increasing the frequency of 7-day maturity operations from weekly to daily commencing March 20, 2023.
Separately, the Treasury Secretary and Federal Reserve Board Chair released a statement supporting actions taken by the Swiss authorities to provide liquidity assistance in connection with UBS’s acquisition of Credit Suisse.
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