Advertisement

ECB continues swaps with Swiss central bank

Share this article

Photo: Malcolm Curtis
09:12 CET+01:00
The European Central Bank say that its current temporary bilateral liquidity swap arrangements with the Swiss National Bank and four other central banks will remain in place until further notice.

"The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced on Thursday that their existing temporary bilateral liquidity swap arrangements are being converted to standing arrangements," the ECB said in a statement.  

The arrangements "will remain in place until further notice," the European bank said.

Story continues below…

"These arrangements allow for the provision of liquidity in each jurisdiction in any of the five currencies foreign to that jurisdiction, should the two central banks in a particular bilateral swap arrangement judge that market conditions warrant such action in one of their currencies," the statement said.
   
The existing temporary swap arrangements have helped to ease strains in financial markets and mitigate their effects on economic conditions, the ECB said.
   
"The standing arrangements will continue to serve as a prudent liquidity backstop," it added.

Share this article

Advertisement

From our sponsors

How to get British healthcare no matter where you are

Navigating the health care system in another country can be tough, and even when it all works out, sometimes you just miss the comfort of the system back home. But there's a solution.

Advertisement
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement