The main central banks offer liquidity in dollars for seven days in daily operations from March 20 to the end of April.
The European Central Bank (ECB) announced this Sunday a coordinated action together with the Bank of Canada, the Bank of England, the Bank of Japan, the Federal Reserve (Fed) and the Swiss National Bank to provide liquidity through swap line agreements. currency in dollars.
“To improve the effectiveness of swap lines in providing dollar funding, central banks that already offer these operations have decided to increase the frequency of operations with a seven-day maturity from weekly to daily,” the ECB said in a statement. .
Daily refinancing operations in dollars maturing in seven days will begin on March 20 and will continue until at least the end of April.
This same Sunday, the ECB praised the rapid intervention of the Swiss authorities in favor of financial stability by endorsing the takeover of Credit Suisse by its competitor UBS.
The action “has been decisive in restoring order in market conditions and guaranteeing financial stability,” ECB President Christine Lagarde said in a statement after learning of the Swiss authorities’ decision.
From Geneva it was reported that the UBS bank will pay only in shares the equivalent of 3,000 million Swiss francs (3,030 million euros) to stay with Credit Suisse, which until today was considered the second most important banking establishment in Switzerland and that will become a subsidiary of the former.
According to the criteria of The Trust Project
