BoE says will phase U.S. dollar repo operations with other central banks

LONDON Fri Jan 24, 2014 4:16am EST

LONDON Jan 24 (Reuters) - The Bank of England said on Friday it had to phase out its current U.S. dollar liquidity-providing operations in conjunction with other central banks.

Central banks have lent U.S. dollar funds through coordinated money market operations since the onset of the global financial crisis to improve liquidity.

The Bank said its monthly 84-day dollar repo operations will continue until April 30, and the 7-day operations would continue until July 30. The Bank added that it could revive the operations if market conditions dictated this.

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