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Fed to cut one-week dollar swap operations with major central banks

EconomyAug 20, 2020 04:25AM ET
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© Reuters. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington

FRANKFURT (Reuters) - The U.S. Federal Reserve will cut the number of seven-day swap operations with major central banks to one tender per week from three from Sept. 1 as funding conditions have improved, the European Central Bank said in a statement on Thursday.

The Fed will, however, 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 ECB said.

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

Fed to cut one-week dollar swap operations with major central banks
 

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Comments (2)
Notvery Goodathis
Peteymcletey Aug 20, 2020 8:10AM ET
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Brrrrrr
Perma Poor
Perma Poor Aug 20, 2020 4:44AM ET
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One tender per week? I eat 8 tenders in one meal!!!
Seth Thomas
Seth Thomas Aug 20, 2020 4:44AM ET
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This is absolutely the best comment I've seen on this site in a long, long time.
 
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