Quick Take
- The fed and five central banks have just announced to enhance liquidity via USD swap lines.
- The other five central banks are the Bank of England, the Bank of Canada, the European Central bank, the Swiss National Bank, and the Bank of Japan.
- Swap line operations with the fed will now be daily instead of weekly
- Distressed banks can now get liquidity (dollars) from the fed daily.
- The result is balance sheet expansion — billions if not trillions of liquidity incoming in the short-medium term.
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