Swaps with foreign cenbanks total $1 bln in latest week-NY Fed

NEW YORK Thu Feb 21, 2013 4:07pm EST

NEW YORK Feb 21 (Reuters) - The Federal Reserve provided $1 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 entire amount, totaling $1 billion in the week ended Feb. 20 at 0.65 percent for seven days.

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.