Central banks fight USD money market problem
In a coordinated effort the major central banks are attempting to alleviate the trouble in the short-term US dollar funding markets. There are two new initiatives- Expansion of the Term Auction Facility- Fed increases existing swap lines with ECB to USD110bn (previously USD 55bn) and SNB to USD27bn (previously USD 12bn). New swap facilities with BoC of USD10bn, BoE USD40bn and BoJ of USD60bn. ECB and SNB will also start providing overnight US dollar liquidity against eligible
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9/18/2008 1:46:34 PM
FXstreet.com: Fundamental
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