The amount was CHF 108 billion, so that roughly equates to $121 billion in dollars. Because of that, secured loans and loans under emergency law in Q1 surged to CHF 112.4 billion as opposed to just CHF 4.4 billion in the same period a year ago.

For some context, the liquidity provided here is mostly for loans against collateral under the SNB’s normal facilities but also emergency aid granted to the big banks after the run on Credit Suisse last month.

The numbers above may look scary but fret not, things have calmed down considerably as evident by the weekly sight deposits data.

This article was written by Justin Low at www.forexlive.com.