MW: Fed to provide foreign-currency liquidity via central banks
The world's leading central banks on Monday said they would set up swap arrangements that would allow the U.S. Federal Reserve to provide foreign-currency liquidity to U.S. financial institutions. If needed, euro, Japanese yen, British pounds and Swiss francs would be provided to the Fed through these additional swap arrangements with the relevant central bank, the Fed said in a news release. The European Central Bank, the Bank of Japan, the Bank of England and the Swiss National Bank are participating in the plan.
