March 20, 2020 / 2:29 PM / 8 days ago

World's biggest central banks expand access to dollar swap facility

FRANKFURT (Reuters) - The central banks of the United States, the euro zone, Canada, Britain, Japan and Switzerland agreed on Friday to increase the frequency of their one-week U.S. dollars credit facility, they said in a joint statement.

“To improve the swap lines’ effectiveness in providing U.S. dollar funding, these central banks have agreed to increase the frequency of 7-day maturity operations from weekly to daily,” the ECB said.

“These daily operations will commence on Monday, 23 March 2020, and will continue at least through the end of April.”

Reporting by Balazs Koranyi; Editing by Toby Chopra

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