"Central banks recently announced coordinated actions to expand the provision of U.S. dollar liquidity," read a press release from the various central banks. "Today, the central banks are announcing schedules for term and forward auctions of U.S. dollar liquidity conducted during the fourth quarter of this year."

The release notes that the schedules include dates of any 28-day and 84-day term auctions and two preliminary dates for any forward auctions of U.S. dollar liquidity over the year-end. Scheduling of the forward auctions is still tentative and may be adjusted in response to financial market conditions, the release added.

The Fed plans to conduct 24-day TAF auction on Oct. 20, Nov. 17, and Dec. 15, and to conduct 84-day TAFs on Nov. 3, Dec. 1, and Dec. 29. The operations will be joined by the ECB, BOJ and SNB.

The Fed also plans to conduct a 17-day forward TAF on Nov. 17, and the 13-day Forward TAF on Nov. 24. The operation will be joined by the BOE and ECB.

The Bank of Canada decided to sit out this time, saying, "The Bank of Canada welcomes these initiatives. The Bank judges that it is not necessary for it to participate in these auctions at this time."

By Erik Kevin Franco, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Stephen Huebl, This email address is being protected from spam bots, you need Javascript enabled to view it

CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca

The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News.

A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.