Swaps with foreign cenbanks total $1.001 billion in latest week: NY Fed

NEW YORK Thu Feb 14, 2013 4:19pm EST

NEW YORK (Reuters) - The Federal Reserve provided $1.001 billion of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.

The European Central Bank tapped the biggest amount, totaling $1 billion in the week ended February 13 at 0.63 percent for seven days.

The Bank of Japan swapped $1 million with a term of seven days and 0.63 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 re-emergence of strains in short-term funding markets in Europe.

(Reporting by Nick Olivari)

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.