Central banks end crisis offer as bank system fears ease

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — Major central banks are standing down from their offer of daily emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about the stability of the global financial system. The European Central Bank said Tuesday that it and other central banks found that pressure on banks’ cash needs has eased and the crisis credits were not being used much lately. The daily dollar credit window launched March 19. just days after Silicon Valley Bank failed and the same day the Swiss government announced that UBS would take over faltering rival bank Credit Suisse.