March 16, 2020 / 6:24 PM / 22 days ago

Bank of England says will offer new U.S. dollar funds from Wednesday

LONDON (Reuters) - The Bank of England said it will offer 12-week U.S. dollar funds starting on Wednesday, part of a move by six of the world’s major central banks to ease strains in global markets and maintain liquidity through the coronavirus crisis.

The BoE will hold a series of enhanced weekly repo operations with a maturity of 84 days until late May, it said in a statement.

Existing weekly repos for one-week dollar funds will continue unchanged, the BoE said.

Reporting by Andy Bruce, editing by David Milliken

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