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Central Banks Band Together for U.S. Dollar Liquidity
March 23, 2023The Federal Reserve Board (“FRB”) announced last Sunday that it was coordinating with the Bank of Canada, Bank of England, Bank of Japan, the European Union Central Bank, and the Swiss National Bank to “enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.” The coordinated actions will mostly be through daily operations of the various swap lines instead of the weekly frequency before this announcement.
