BOJ Cooperates with Central Banks of Each Country To Provide Daily Dollar Supply March 21 7:14
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To reduce the disruption of financial markets due to the spread of the new coronavirus, the Bank of Japan has announced that it will work with central banks around the world to further increase dollar funding. With the rapid rise in demand for dollars in financial markets around the world, the company will supply dollars daily to markets that it had once a week.
The Bank of Japan announced on the night of the 20th that it will further expand the supply of dollar funds to the financial markets in cooperation with the world's leading central banks, such as the US Federal Reserve and the European Central Bank.
Specifically, it will be able to make a weekly loan of dollars to a financial institution through the Federal Reserve Bank of New York account, instead of once a week, on a daily basis.
They will start on the 23rd of this month at the beginning of the week and continue at least until the end of next month.
The turmoil in the financial markets has led investors to sell their stocks and bonds to secure the dollar, a major currency, which has led to global stock depreciation and a stronger dollar. It was pointed out.
The BOJ is working with central banks to create an environment where financial institutions can easily secure dollar financing and reduce market turmoil.