- The ECB will continue to conduct one-week US dollar liquidity-providing operations after 31 July 2014 until further notice.
The Governing Council of the European Central Bank (ECB), in cooperation with the Bank of England, the Bank of Japan and the Swiss National Bank, has decided to continue to offer one-week US dollar liquidity-providing operations after 31 July 2014 until further notice.
In the future the ECB will, on a regular basis, assess the need for US dollar liquidity-providing operations. It will take into account the fact that the recently established standing swap lines have created a framework for the provision of US dollar liquidity to counterparties, if warranted by market conditions.
The indicative schedule for US dollar liquidity-providing operations for the next three months will be published on the ECB’s website and will be updated on a monthly basis. The operations take the form of repurchase transactions against eligible collateral and are carried out as fixed rate tender procedures with full allotment.
The earlier decision to continue to conduct one-week US dollar liquidity-providing operations until 31 July 2014 was announced by the ECB on 24 January 2014, when the Governing Council also announced that after April 2014 it would no longer offer three-month US dollar liquidity-providing operations.
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