March 19, 2020 / 6:44 PM / 9 days ago

Brazil central bank says $60 billion FX swap line with Fed has no policy conditionality

BRASILIA (Reuters) - Brazil’s central bank said on Thursday that the $60 billion foreign exchange swap line facility provided by the U.S. Federal Reserve does not imply any economic policy conditionality.

In a statement, Brazil’s central bank said the facility will be used to increase the provision of dollar liquidity where necessary, and tackle the high degree of market volatility recently resulting from the coronavirus pandemic.

Reporting by Jamie McGeever; Editing by Chizu Nomiyama

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