Fed sets up U.S. dollar swap lines with nine additional foreign central banks
2020-03-23 18:23:35 [Print]
The Federal Reserve announced on March 19 that it will establish U
The Fed announced USD60 billion of swap lines each with the central banks of Australia, Brazil, South Korea, Mexico, Singapore, and Sweden. It also announced swap lines of USD30 billion each with the central banks of Denmark, Norway, and New Zealand . These U . S . dollar liquidity arrangements will be in place for at least six months.
Earlier the Federal Reserve announced on March 15 that it would take coordinated actions with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank through existing U.S . dollar liquidity swap lines to provide more liquidity support to global markets . The six central banks have agreed to cut the the interest rate applied to loans made by foreign central banks' US dollar liquidity swap facilities by 25 basis points . Foreign central banks will now offer 84-day dollar-denominated credit in their jurisdictions, in addition to the one-week loans offered previously.
. S . dollar swap lines with nine additional major foreign central banks, including the Reserve Bank of Australia, the Central Bank of Brazil and the Bank of Korea, to help lessen strains in global U . S . dollar funding markets.The Fed announced USD60 billion of swap lines each with the central banks of Australia, Brazil, South Korea, Mexico, Singapore, and Sweden. It also announced swap lines of USD30 billion each with the central banks of Denmark, Norway, and New Zealand . These U . S . dollar liquidity arrangements will be in place for at least six months.
Earlier the Federal Reserve announced on March 15 that it would take coordinated actions with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank through existing U.S . dollar liquidity swap lines to provide more liquidity support to global markets . The six central banks have agreed to cut the the interest rate applied to loans made by foreign central banks' US dollar liquidity swap facilities by 25 basis points . Foreign central banks will now offer 84-day dollar-denominated credit in their jurisdictions, in addition to the one-week loans offered previously.