FX swaps with foreign cenbanks at $7.295 bln this week-NY Fed

NEW YORK Thu Nov 15, 2012 4:36pm EST

NEW YORK Nov 15 (Reuters) - The Federal Reserve provided $7.295 billion in liquidity to foreign central banks in the latest week via its swap lines, New York Fed data showed on Thursday.

The European Central Bank tapped the facility for $7.295 billion. A total of $3.174 billion was provided to the ECB at a rate of 0.67 percent for seven days, and $4.120 billion was tapped for 84 days and a rate of 0.65 percent.

The Bank of Japan, meanwhile, used $1 million of the swap lines for 8 days and a rate of 0.66 percent.

The Federal Reserve has established swap arrangements with the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank and the Bank of Japan in an effort to respond to the emergence of strains in short-term funding markets in Europe.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.