Central banks have entered into swap agreements in US dollars with the Federal Reserve
Today, the Federal Reserve, Reserve Bank of Australia, Reserve Bank of New Zealand, Bank of Korea, Monetary Authority of Singapore, Danmarks Nationalbank, Norges Bank and Sveriges Riksbank that temporary, mutual currency arrangements (swap facilities) have been established to manage the strained market situation for short-term borrowing in US dollars (USD).The aim of the facility is to improve liquidity conditions on global financial markets. Today’s announcement is a complement to the swap agreement concluded between the Federal Reserve and Bank of Canada, Bank of England, Bank of Japan,