FRANKFURT/WASHINGTON – Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the world. In coordination with central banks elsewhere, the U.S. Federal Reserve offered daily currency swaps to ensure banks in Canada, Britain, Japan, Switzerland and the euro zone would have the dollars needed to operate. The change announced Sunday is a modest expansion of an existing program in which the Fed each week pays dollars to other major central banks in exchange for local currency.

https://business.inquirer.net/392032/global-central-banks-open-daily-dollar-taps-to-help-banks

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