The European Central Bank (ECB), the Bank of England, the Bank of Japan and the Swiss National Bank (SNB) said on Tuesday that they decided, in consultation with the United States Federal Reserve, to revert the frequency of their 7-day US dollar liquidity providing operations from daily to once a week.
The banks noted the decision was made «in view of the improvements in US dollar funding conditions and the low demand at recent US dollar liquidity-providing operations» and added it will be effective as of May 1.
The central banks stressed they «stand ready to re-adjust the provision of US dollar liquidity as warranted by market conditions.»