The Swiss National Bank (SNB) on Friday said it would offer up to $6 billion (3.77 billion euros) in liquidity to banks in the form of a repo auction on April 22. The terms of the transaction will be for 28 days, said the central bank, adding that it was renewing a US dollar operation maturing on 24 April. Last month, the SNB said it would inject $6 billion into the financial system in tandem with similar action by other central banks. “The SNB intends to continue the provision of US dollar liquidity for as long as it deems necessary,” the bank said. The SNB, along with the US, British and other central banks have been providing such liquidity in order to help banks cope with a freeze on the money markets sparked by the US subprime home loan crisis. The crisis has made banks distrustful of their traditional counter-parties due to losses in housing market collapse. __
