#Exchange Stabilization Fund
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US Treasury Department issues statement on financing regarding Japanese yen intervention
US Treasury Secretary Scott Bessent announced that the Exchange Stabilization Fund was used in Japan's yen intervention and that no credit was extended to Japan. Japan carried out a record intervention of 15.4 trillion yen between July 30 and August 26.
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Economy
US Treasury Secretary Bessent Warns of Disorderly Movements in Yen Markets
US Treasury Secretary Scott Bessent stated that disorderly movements in the Japanese yen markets could lead to global instability and increase borrowing costs in the US. Bessent emphasized that no loans were provided to Japan and that the Exchange Stabilization Fund is used only for currency swaps.
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Economy