December 27, 2012 / 9:06 PM / 5 years ago

NY Fed-FX swaps with foreign cenbanks total $601 mln in latest week

NEW YORK, Dec 27 (Reuters) - The Federal Reserve provided $601 million 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 $600 million in the week ended Dec. 26. The terms of the swap were 14 days and 0.66 percent.

The Bank of Japan swapped $1 million, with terms of 21 days at 0.65 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 reemergence of strains in short-term funding markets in Europe.

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