Bank of England statement: Credit Suisse

“I welcome the swift action and the decisions taken by the Swiss authorities. They are instrumental for restoring orderly market conditions and ensuring financial stability. The ...

tweet at 4:36pm: PUTIN SAYS RUSSIA IS OPEN TO DIPLOMATIC SETTLEMENT OF UKRAINE CRISIS BUT REJECTS ULTIMATUMS tweet at 4:35pm: PUTIN SAYS RUSSIA IS GRATEFUL FOR CHINA'S BALANCED LINE ON EVENTS IN UKRAINE PUTIN SAYS RUSSIA WELCOMES CHINESE WILLINGNESS TO PLAY CONSTRUCTIVE ROLE IN SOLVING UKRAINE CRISIS

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. To improve the swap lines' effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily. These daily operations will commence on Monday, March 20, 2023, and will continue at least through the end of April. The network of swap lines among these central banks is a set of available standing facilities and serve as an important liquidity backstop to ease strains in global funding markets, thereby helping to mitigate the effects of such strains on the supply of credit to households and businesses. tweet at 5:07pm: US FEDERAL RESERVE: THE SWAP LINES HELP TO ALLEVIATE PRESSURES ON THE AVAILABILITY OF CREDIT TO HOUSEHOLDS AND BUSINESSES. tweet at 5:05pm: US FEDERAL RESERVE: DAILY OPERATIONS WILL BEGIN ON MONDAY AND WILL LAST AT LEAST UNTIL THE END OF APRIL.