In a joint statement, ECB, BoE, BoJ and SNB said they will lower the frequency of 7-day US dollar liquidity providing operations starting September 1. 7-day USD operations will be carried out once per week, instead of three times per week. 84-day operations will continue to be offered weekly.
The central banks said the move was in view of “continuing improvements in US dollar funding conditions and the low demand at recent 7-day maturity US Dollar liquidity-providing operations.” Still, the central banks “stand ready to re-adjust the provision of US dollar liquidity as warranted by market conditions”.
