January 20, 2011 / 9:26 PM / 8 years ago

Swaps with foreign cen banks total $70 million - NY Fed

NEW YORK, Jan 20 (Reuters) - The Federal Reserve in the latest week provided $70 million of liquidity to the European Central Bank via its swap lines for foreign central banks, the New York Fed said on Thursday.

The ECB was the sole institution to tap the swap lines in the week ended Jan. 19, swapping the full amount.

The terms for the ECB swap were seven days at 1.18 percent, the New York Fed added.

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. (For the full Fed report, double-click on: here)

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