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Fed to Cut One Week Dollar Swap Operations With Major Central Banks

Federal Bank

With improvement in funding conditions, US Federal Reserve has announced to cut the number of seven-day swap operations with major central banks to one tender per week from three starting September 1.

However, the Fed will maintain its schedule for 84-day tenders with the Bank of England, the Bank of Japan, the ECB and the Swiss National Bank at one per week.

The Fed had increased the frequency of its dollar liquidity operations at the height of coronavirus crisis earlier this year but has already reduced the frequency once before.

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