Fed, central banks enhance ‘swap lines’ to combat banking crisis By Cointelegraph

The United States Federal Reserve has announced a coordinated effort with five other central banks aimed at keeping the U.S. dollar flowing amid a series of banking blowups in the U.S. and in Europe.

The March 19 announcement from the Fed comes only a few hours after Swiss-based bank Credit Suisse was bought out by UBS for $3.25 billion as part of an emergency plan led by Swiss authorities to preserve the country’s financial stability.