Central Banks Make Coordinated Move to Enhance Swap Lines
- Seven-day maturity operations increase from weekly to daily
- Coordinated move aimed at easing dollar availability worldwide
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The Federal Reserve, along with central banks in Europe, Japan, the U.K., Canada and Switzerland, announced a coordinated action Friday to beef up dollar liquidity swap line arrangements in another move designed to keep dollar liquidity ample around the world.
The move will take effect Monday, March 23 and will continue at least through the end of April.