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Bank of Canada Announces Extension of
Expanded Swap Facility with U.S. Federal
Reserve in coordination with other central
Notice - Wednesday, June 29, 2011, 09:00 (ET)
The Bank of Canada, the Bank of England, the European Central Bank, the Federal
Reserve, and the Swiss National Bank today announced an extension of the existing
temporary U.S. dollar liquidity swap arrangements through 1 August 2012. The Bank
of Japan will consider the extension at its next Monetary Policy Meeting. The swap
arrangements, re-established in May 2010, had been authorized through 1 August

Bank of Canada Action
The Bank of Canada and the Federal Reserve have agreed to extend their US $30
billion swap facility (reciprocal currency arrangement) to 1 August 2012. This swap
facility was set to expire in August 2011.
The Bank of Canada continues to judge that it is not necessary for it to draw on this
swap facility at this time, but that it is prudent to maintain the agreement. Should the
swap be drawn on, the details of the liquidity facilities provided would depend on the
specific market circumstances at the time.
The Bank of Canada continues to closely monitor global market developments and
remains committed to providing liquidity as required to support the stability of the
Canadian financial system and the functioning of financial markets.

Information on Related Actions Being Taken by
Other Central Banks
Information on the actions taken by other central banks is available at the following
U.S. Federal Reserve Board
Bank of England
European Central Bank
Swiss National Bank

For further information, please contact:
Jeremy Harrison
613 782-8782
Content Type(s): Press, Market notices