FRANKFURT/LONDON/TOKYO (Reuters) – The world’s top central banks will reduce the frequency of their dollar operations with the U.S. Federal Reserve after volatility in financial markets receded, the banks said in a joint statement on Tuesday.
The European Central Bank, the Bank of Japan, the Bank of England and the Swiss National Bank have been conducting daily dollar swaps with the Fed for the past month but will now revert to weekly tenders, given improvements in U.S. dollar funding conditions they said.
(Reporting by Balazs Koranyi, Leika Kihara and William Schomberg; Editing by Alison Williams)
