Coordinated central bank action to enhance the provision of U.S. dollar liquidity

The Bank of England (BoE) has published a press release to inform that the Bank of Canada, the U.S. Federal Reserve, the Bank of Japan, the European Central Bank, the Swiss National Bank, and the BoE itself have initiated a coordinated effort to increase the supply of U.S. dollar liquidity through existing U.S. dollar swap arrangements.
Specifically, to increase the effectiveness of the swap lines in providing U.S. dollars, the central banks have agreed to increase the frequency of seven-day maturity operations from weekly to daily. These daily operations began on March 20, 2023, and continue at least through the end of April 2023.
In the meantime, the Bank of England has also published a corresponding Market Notice which includes an indicative schedule of the operations and relevant terms, such as the operation, settlement, and maturity dates and the pricing of the agreements.