Global Central Banks Take Action to Ensure Dollar Liquidity Amid Banking Crisis
Originally Published 2 years ago — by The New York Times
The Federal Reserve and other major global central banks have announced that they will enhance swap operations to ensure that dollars remain readily available across the global financial system as bank blowups in America and banking issues in Europe create a strain. The move is aimed at preventing tumultuous conditions in markets as jittery investors react to the blowups of Silicon Valley Bank and Signature Bank in the United States and the arranged takeover of Credit Suisse by UBS in Europe. The move was part of the Fed’s ongoing push to shore up stability in the global financial system.