Central bank offers new injection of dollar liquidity

The Swiss National Bank (SNB) says it will offer up to $6 billion (SFr6.05 billion) in liquidity to banks in a move aimed at easing strains in the financial markets.

This content was published on April 18, 2008 - 12:22

The offer will come in an auction of so-called repo loans or repurchase agreements and will begin on Tuesday.

It replaces a similar measure taken last month in concert with the European Central Bank, the United States Federal Reserve and the Bank of Canada.

In a statement at the time, the SNB said it intended to continue supplying United States dollar liquidity for as long as it thought necessary.

The SNB and other central banks have been providing such liquidity to help banks cope with as freeze on the markets sparked by the US subprime home loan crisis.

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