THE FED'S CENTRAL BANK SWAP LINES AND FIMA REPO FACILITY.

The article reports that the severe global economic impact of the rapid spread of COVID-19 in early 2020 prompted a quick and broad policy response from fiscal authorities and central banks. This article focuses specifically on the policy actions taken by the Federal Open Market Committee (FOMC) in March 2020 to address pressures in offshore dollar funding markets and U.S. Treasury market dislocation.