Reuters: US Dollar Report: Swaps with foreign central banks total $301 mln-NY Fed

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Swaps with foreign central banks total $301 mln-NY Fed May 24th 2012, 20:09 NEW YORK | Thu May 24, 2012 4:09pm EDT NEW YORK May 24 (Reuters) - The Federal Reserve provided $301 million of liquidity to the European Central Bank and Bank of Japan in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday. The ECB tapped the swap line for $300 million in the week ended May 23. The terms for the ECB swap were seven days at 0.66 percent, the New York Fed added. The Bank of Japan tapped the swap line for $1 million in the same week, also for 7-days at 0.66 percent, according to the web site. 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 re-emergence of strains in short-term funding markets in Europe.

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