ECB announces changes to increase dollar liquidity

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The European Central Bank (ECB) announced changes to its policy relating to the operations of the dollar in a bid to increase liquidity, reports CNBC-TV18 quoting Dow Jones. We will take whatever measures needed to meet liquidity needs, the ECB said. As part of the changes, the Swiss National Bank (SNB), Bank of England (BoE) and the ECB will conduct tenders of US dollar funding at seven-, 28- and 84-day maturities at fixed, preset rates and banks can now borrow any amount they wished against required collateral. The SNB said that the Bank of Japan was also considering introducing similar measures.