Bank of England Carney and Bailey
- today's actions will ease strains in global funding markets, support supply of credit to households and businesses
- say major UK banks are well placed to withstand severe market disruption
- today's global action complements package of measures taken by BoE last Wednesday
- says Fed, BOJ, Bank of Canada, ECB and Swiss National Bank have agreed to lower pricing on standing US dollar liquidity swaps by 25 bps
- says central banks will offer US dollar swaps with an 84-day maturity, in addition to existing one-week operations
- says changes will take effect from next scheduled operation
- says new pricing and maturity options will remain in place as long as needed to support smooth functioning of US dollar funding markets
