Central Banks Announce Coordinated Effort to Increase Liquidity

March 20, 2023

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.

For additional information, please see:

  • Federal Reserve Board Press Release (link)
  • Treasury and Federal Reserve Board Statement (link)