Thursday June 25, 05:17 PM
ECB extends dollar, Swiss franc liquidity operations
FRANKFURT, June 25 (Reuters) - The European Central Bank will extend its weekly and longer-term U.S. dollar liquidity operations until at least the end of September, but drop its 28-day liquidity operations, the central bank said on Thursday.
In a further extension of coordinated central bank intervention to support money markets, the ECB will also extend its one-week foreign exchange swaps with the Swiss National Bank until at least the end of October.
The seven-day and 84-day dollar operations will continue to offer banks unlimited funds at fixed interest rates, the ECB said in a statement, confirming its currency swap line with the U.S. Federal Reserve had been extended until February 1, 2010.
'A similar decision has been taken by the Bank of England and the Swiss National Bank,' the ECB said.
The 28-day dollar operations would cease following the operation to be held on July 28, but could be restarted in the future depending on market conditions.
(Reporting by Krista Hughes) Keywords: ECB/SWAP
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