WASHINGTON, DC - MARCH 13: The seal of the Federal Reserve Board is seen outside its William McChesney Martin Building as they joined other government financial institutions to bail out Silicon Valley Bank's account holders after it collapsed on March 13, 2023 in Washington, DC. U.S. President Joe Biden tried to assure the public that the U.S. banking industry was safe following SVB's collapse and after New York regulators' forced closure of Signature Bank. (Photo by Alex Wong/Getty Images)
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.
Amanda Chu of POLITICO reveals how lawmakers are betting millions on pharma stocks even as Trump threatens tariffs and demands steep drug price cuts. Watch!
Hayley Berg, Hopper’s lead economist, previews soaring summer 2025 travel: record international flights, cheaper fares for Europe & Asia, plus booking hacks.
NerdWallet Senior Economist Liz Renter shares what she's tracking in economic data, with a focus on U.S. household debt and rising credit card balances. Watch!
At some 940-pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations.
Chris Versace, CIO at Tematica Research, joins to discuss earnings season trends, Flash PMI signals, Walmart’s strategy updates, and Nike’s evolving outlook.
Andrew Nusca, Editorial Director at Fortune, dives into WhatsApp’s first-ever ads rollout —and how Meta’s ad push intensifies its showdown with OpenAI.
