Central banks The United States, Switzerland, Canada, the Bank of England, the Bank of Japan and the European Central Bank announced coordinated actions to improve access to liquidity and calm markets amid a crisis of confidence in the banking system.

This concerted move follows UBS’s announcement of a takeover of Credit Suisse in an operation orchestrated by the Swiss government to restore confidence in the financial system.

According to the Fed, coordinated operations will begin tomorrow and continue until at least the end of April.

^{Source: APE, AFP, Reuters.}