It has been reported that major central banks will hold dollar funding auctions weekly instead of daily as of May 1, after easing financial conditions.
In the statement made by the European Central Bank, due to the improvements in US dollar funding and lower demand in US dollar liquidity supply operations, it was stated that the central banks of Europe, England, Japan and Switzerland agreed to change the frequency of swap line operations from daily to weekly in consultation with the US Federal Reserve.
In the statement, which was announced that the said decision will be implemented from May 1, it was noted that central banks are ready to readjust the US dollar liquidity supply as required by market conditions.
After the problems in the financial system in the USA and Europe last month, the Fed, the central banks of Canada, England, Japan, Europe and Switzerland agreed to increase the frequency of US dollar swap line operations from weekly to daily. The decision was announced on March 20.
Source: AA / Prepared by Irem Yildiz
