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The Federal Reserve and 5 of the world’s different prime central banks unveiled an enhanced U.S. dollar-liquidity association Sunday within the wake of current banking woes at Credit Suisse (CS), Silicon Valley Bank (SIVB) and different monetary establishments.
The Bank of Canada, Bank of England, Bank of Japan, European Central Bank and Swiss National Bank joined the Fed in rolling out an enhanced liquidity swap line for U.S. {dollars} (DXY). The association ought to assist present business banks in main economies with sufficient {dollars} (DXY) to forestall the kind of liquidity issues that sunk SIVB and practically took down CS.
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