Fed opens repo facility to allow exchange of treasuries for dollars
The programme aims to stabilise dollar funding markets as the US and other major economies enter a coronavirus-induced partial shutdown
31 March 2020 - 19:10
Washington — The US Federal Reserve, in its latest response to strains caused by the coronavirus pandemic, has opened a temporary repurchase agreement facility for foreign central banks to support the smooth functioning of financial markets.
The programme will allow participants to temporarily exchange US treasuries for dollars, which can then be made available to institutions in their jurisdictions, the Fed said in a statement on Tuesday...
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