1 Min Read
NEW YORK, Dec 6 (Reuters) - The Federal Reserve provided $3.236 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 $3.233 billion, with a rate of 0.68 percent for seven days. The remaining $3 million was for the Bank of Japan, with a rate of 0.66 percent for seven days as well.
The Federal Reserve has established swap arrangements with the Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and Bank of Japan in an effort to respond to the emergence of strains in short-term funding markets in Europe.