The central banks of the United States, England, Japan, Europe, Switzerland, and Canada are taking coordinated measures to increase the supply of liquidity
The coordinated action of central banks to increase the supply of US dollar liquidity
The central banks of Canada, the UK, Japan, Europe, the Federal Reserve, and Switzerland are today announcing coordinated action to increase liquidity through US dollar liquidity swap line arrangements.
Federal Reserve statement: Daily operations will begin on Monday and will continue until at least the end of April
To improve the effectiveness of swap lines in providing dollar funding, central banks that currently offer dollar operations have agreed to increase the number of 7-day maturity operations from weekly to daily.
UBS (UBSG.S) has agreed to buy Credit Suisse after increasing its offer to more than $2 billion, the Financial Times reported on Sunday.
UBS will pay more than 0.50 francs ($0.5401) a share in its own stock, far below Credit Suisse’s closing price of 1.86 francs on Friday, FT reported, citing sources.
The Swiss National Bank has agreed to offer a $100 billion liquidity line to Credit Suisse as part of the deal, the FT added, citing two people familiar with the matter.
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