NYFED-Forex swaps with ECB totaled $3.306 bln in latest week

NEW YORK Fri Nov 23, 2012 2:50pm EST

NEW YORK Nov 23 (Reuters) - The Federal Reserve provided $3.306 billion of liquidity to the European Central Bank in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.

The European Central Bank was the only central bank to tap the Fed's facility, swapping the full amount.

The terms of the loan were eight days at 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 reemergence of strains in short-term funding markets in Europe.

The full Fed report can be found on:

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