Top global central banks close three-month dollar cash tap

04/23/2021 | 04:25am

FRANKFURT (Reuters) - The central banks of the the euro zone, Britain, Japan and Switzerland said on Friday they would discountinue a three-month auction of U.S. dollars created at the height of a pandemic-induced market rout last year.

"In view of the sustained improvements in US dollar funding conditions and low demand...the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, in consultation with the Federal Reserve, have jointly decided to discontinue offering US dollar liquidity at the 84-day maturity," they said in a statement.

"This operational change will be effective as of 1 July 2021."

(Reporting By Francesco Canepa and William Schomberg; Editing by Toby Chopra)

© Reuters 2021
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