From Financial Times….

Earlier, the Federal Reserve gave central banks in Japan, the eurozone, the UK, Switzerland and Canada $180bn to lend on to local banks that cannot access its onshore dollar lending facilities.

The central banks said they were taking “co-ordinated measures designed to address the continued elevated pressures in US dollar short-term funding markets”. They promised to “continue to work together closely” and to take “appropriate steps to address the ongoing problems”.

Brad Setser has more.