The US Federal Reserve and other major central banks announced a coordinated effort to improve banks’ access to liquidity, hoping to calm worries rattling the global banking sector. | AFP
“To improve the swap lines’ effectiveness in providing US dollar funding, the central banks currently offering US dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily,” the central banks said in a joint statement.
“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,” the statement added.
Markets have been riled by the failure of Silicon Valley Bank and fear of a shortage of liquidity as interest rates are raised to fight inflation. In 2020, the Fed provided and later extended a similar swap line facility as the Covid-19 pandemic caused a global cash crunch.Subscribe to our daily newsletter
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Jittery investors await Fed, BSP moves this weekInvestors are facing a busy week with upcoming interest rate announcements by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The benchmark Philippine Stock Exchange index (PSEi)
Baca lebih lajut »
Central banks try to calm markets after UBS deal to buy Credit SuisseIn a global response not seen since the height of the pandemic, the US Federal Reserve says it has joined with central banks in Canada, England, Japan, the EU, and Switzerland in a coordinated action to enhance market liquidity.
Baca lebih lajut »
Midsize US banks ask government to protect all deposits: reportA coalition of midsized US banks has asked federal regulators to guarantee all of their customers’ deposits for two years, even above the usual $250,000 limit, to avoid contagion after Silicon Valley Bank’s collapse, Bloomberg reported Saturday. | AFP
Baca lebih lajut »
Oil edges up on historic Swiss banks deal, central banks supportOil prices rose on Monday after suffering their biggest weekly loss in months as UBS struck a deal to buy Credit Suisse and some of the world’s largest central banks sought to reassure and stabilize global financial markets. | Reuters
Baca lebih lajut »
Global central banks open daily dollar taps to help banksFRANKFURT/WASHINGTON - Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the
Baca lebih lajut »
US lawmakers to examine merits of higher bank deposit insurance capThe Federal Deposit Insurance Corporation's current limit is $250,000 per depositor, which was increased from $100,000 during the 2008 financial crisis.
Baca lebih lajut »