On 20 March 2023, the European Central Bank, the Bank of England, the Bank of Canada, the Bank of Japan, the Swiss National Bank and the US Federal Reserve decided to make financial resources available from March 20th until the end of April 2023 to save the liquidity of the US dollar and support a smooth functioning of the dollar in funding markets.
The banking crisis continues to rage. The media step light over the issue although the situation is serious. Also on March 20th 2023, the bankrupt Credit Suisse was acquired by major bank USB for $3 billion which is nothing compared to the value of Credit Suisse but still a lot more than the symbolic 1 Pound HSBC paid last week to acquire Silicon Valley UK.
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