Coordinated Central Bank Action to Address Pressures in Global Money Markets

Central banks have been employing co-ordinated measures designed to address the pressures in global money markets.
Published on 26 September 2008

Most recently, central banks have acted together to inject dollars into the overnight markets. Using reciprocal currency arrangements (swap lines) with the Federal Reserve, the Bank of England, the European Central Bank (ECB), and the Swiss National Bank today are announcing the introduction of operations to provide U.S. dollar liquidity with a one-week maturity. These operations are intended to address funding pressures over quarter end. Central banks continue to work together closely and are prepared to take further steps as needed to address the ongoing pressures in funding markets.

PDFPress release


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