Global Financial Crisis

The Federal Reserve and five other central banks will boost liquidity in their standing US dollar swap arrangements. This is the latest effort by policymakers to preempt any dollar funding strains in the global financial system. The Swiss tie-up caps the past fortnight of global banking meltdowns, first in the US crypto-friendly bank Silvergate said it would shutter. Then the startup focus Silicon Valley bank failed after venture capital investors urged founders to pull their money from the Californian lender.