The US Federal Reserve is to pump more liquidity into the global financial system, easing terms for direct loans to banks and increasing swap arrangements with other central banks.
The Fed said it was pumping $200 billion into a new Term Securities Lending Facility, with term of 28 days instead of overnight under an existing programme.
This allows banks to obtain Treasury securities by pledging collateral such as mortgage-backed securities and other debt.
Auctions will be held on a weekly basis, beginning on March 27.
The Fed also said it has authorised increases in its existing temporary reciprocal currency arrangements or swap lines with the European Central Bank and the Swiss National Bank.
The Fed will provide up to $30 billion to the ECB and $6 billion to the SNB.
