The U.S. Federal Reserve is working with other central banks around the world to ensure dollars are available to stop any liquidity issues related to the ongoing crisis in the banking sector.
The central bank on Sunday said it has extended its agreements with the Bank of England, Bank of Japan, European Central Bank, Bank of Canada, and the Swiss National Bank to provide U.S. dollar swap lines.
These agreements essentially allow the Fed to pump U.S. dollars into foreign banks by purchasing other currencies in bulk. The Fed first launched them during the Great Financial Crisis to ease strains in the global funding market.
“To improve the swap lines’ effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of seven-day maturity operations from weekly to daily,” the Fed said in a statement.
These operations began on Monday morning and will continue through April.
Google settled an antitrust lawsuit, Tesla is reportedly raising pay, a group is suing Utah over its social media policies for kids and the founder of Nikola was sentenced to prison.
The White House is lending its support to an auto industry effort to standardize Tesla’s electric vehicle charging plugs for all EVs in the United States.
Some of America’s biggest retailers are working to increase their shipping speeds to please shoppers expecting faster and faster deliveries.
A group representing several big tech companies is suing Utah over state laws about children's social media use.
Google has agreed to pay $700 million to settle an anti-trust settlement.
Stocks were up after the closing bell as Wall Street continued to pin their hopes on rate cuts after last week's comments from the Fed.
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Google has agreed to pay $700 million and make several other concessions to settle allegations that it had been stifling competition against its Android app store — the same issue that went to trial in another case that could result in even bigger changes.
Nicki Minaj just reached a milestone that no other woman in rap has reached.
Apple announced that starting this week, it will stop selling some versions of the Apple watch in the U.S.
