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Fed publishes swaps pacts with Europe, others

WASHINGTON, May 11 (Reuters) - The Federal Reserve on Tuesday posted three agreements with foreign central banks to provide dollars to ease market strains in an effort to boost disclosures to provide more clarity about emergency steps.

The Fed posted to its website currency swap arrangements with the European Central Bank, the Swiss National Bank and the Bank of England. It pledged to publish compacts with the central banks of Japan and Canada when those accords are finalized.

The U.S. central bank also said it will make public activity in each of those currency swap facilities on a weekly basis. The data will be reflected in other weekly and monthly Fed statistical releases, it said.

“The aim of both of these steps is to enhance transparency of the actions taken by the Federal Reserve to improve liquidity in global money markets and minimize the risk that strains abroad could spread to U.S. markets,” the Fed said in a a statement. (Reporting by Mark Felsenthal, Editing by Chizu Nomiyama)

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