The Federal Reserve said Friday it would ramp up a program with five other foreign central banks to increase the frequency of operations that are designed to make US dollars available overseas at near-zero interest rates.
The Fed initially unveiled these “swap” lines with five central banks in Canada, Europe and Japan on Sunday. The central banks said Friday they would conduct seven-day maturity operations daily rather than weekly, and that they would continue to offer an 84-day maturity operation weekly.