It's Groundhog Day Again as Fed Announces Daily Swap Lines.

#dollar #bank #interestrates #liquidity #derivatives

Today we will look at the response of the Federal Reserve and other major Central Banks to the continuing banking crisis and the backstopping by the Swiss government of UBS's takeover of Credit Suisse.

What is interesting is that the Fed announced it is reopening daily swap lines on the exact same day it did back in March 2020.

March 19, 2023, Fed announcement: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm

March 19, 2020, Fed announcement: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200319b.htm

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