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No swaps with foreign cen banks in latest week - NY Fed
NEW YORK |
NEW YORK Jan 3 (Reuters) - The Federal Reserve provided no liquidity to foreign central banks this week, the New York Fed said on Thursday.
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.
The swap facilities respond to the re-emergence of strains in short term funding markets in Europe. They are designed to improve liquidity conditions in global money markets and to minimize the risk that strains abroad could spread to U.S. markets, by providing foreign central banks with the capacity to deliver U.S. dollar funding to institutions in their jurisdictions, according to the Fed.
The swap lines with the ECB, BOE, SNB and BOJ will provide these central banks with the capacity to conduct tenders of U.S. dollars in their local markets at fixed local rates for full allotment.
The full Fed report can be found on:
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