Federal Reserve swaps with foreign central banks total $36 million in latest week

FILE PHOTO - The U.S. Federal Reserve in Washington
FILE PHOTO - A police officer keeps watch in front of the U.S. Federal Reserve in Washington, DC, U.S. on October 12, 2016. REUTERS/Kevin Lamarque/File Photo

August 17, 2017

NEW YORK, Aug 17 (Reuters) – The Federal Reserve provided $36 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 swapped $35 million with a term of 7 days and a rate of 1.66 percent.

The Bank of Japan swapped $1 million with a term of 7 days and a rate of 1.66 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.

(The full Fed report can be found at: https://apps.newyorkfed.org/markets/autorates/fxswap)

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