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IPFS News Link • Federal Reserve

Fed Extends Swap Lines With ECB, Other Central Banks

12-21-2010 • Bloomberg.com

In a swap, central banks exchange foreign currency with an agreement to reverse the transaction at a later date. The central banks will then lend the dollars at fixed rates to firms in their countries. Concern that financial institutions were holding too many assets of Europe’s most-indebted nations led dollar liquidity to tighten in London during May.

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Reported By Jack Gregson

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