Reuters: US Dollar Report: NY Fed forex swaps with ECB total $2.447 bln in latest week

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NY Fed forex swaps with ECB total $2.447 bln in latest week Jun 21st 2012, 20:23 NEW YORK, June 21 | Thu Jun 21, 2012 4:23pm EDT NEW YORK, June 21 (Reuters) - The Federal Reserve provided $2.447 billion of liquidity to the European Central Bank in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday. The European Central Bank was the sole central bank who tapped the Fed's facility. The terms of the swap were 7 days at 0.67 percent. 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 reemergence of strains in short-term funding markets in Europe.

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