Thursday June 25, 05:54 PM
US Fed extends dollar swap deals with 13 central banks
WASHINGTON (AFP) - The US Federal Reserve said Thursday it was extending into 2010 dollar swap deals with 13 central banks as part of modifications to a range of liquidity programs.
The deals were clinched beginning last year as the Fed and other key central banks moved to boost lending and unblock the global credit squeeze following a financial crisis arising from a US home mortgage meltdown.
The extension of the dollar swap arrangements through February 1 applies to the 13 foreign central banks, the Fed said in a statement.
The extended deals were with the central banks of Australia, Brazil, Canada, Denmark, Britain, South Korea, Mexico, New Zealand, Norway, Singapore, Sweden, Switzerland and the European Central Bank.
In addition, the Fed said foreign currency swap arrangements with the Bank of England, the European Central Bank, and the Swiss National Bank would also be extended to February.
The Bank of Japan will consider extensions of the dollar liquidity swap and the foreign-currency liquidity swap arrangements with the Federal Reserve and will announce its decision following its next monetary policy meeting, the statement said.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
