Frequency of 7-day US dollar liquidity-providing operations as of 1 May 2023

The Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank, in consultation with the Federal Reserve, due to „improvements in US dollar funding conditions and the low demand at recent US dollar liquidity-providing operations“ have collectively agreed to decrease the frequency of their 7-day operations from daily to once per week, effective 1 May 2023.
These central banks are prepared to modify their provision of US dollar liquidity in the future, based on market circumstances. The swap lines between these banks are available standing facilities and serve as a crucial liquidity support system to ease stress in global funding markets. This, in turn, aids in mitigating the impact of such stress on the provision of credit to households and businesses, both domestically and internationally.