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Prolongation of US dollar liquidity-providing
operations
29 June 2011
The Governing Council of the European Central Bank (ECB) has taken a decision, in coordination with the
Bank of Canada, the Bank of England and the Swiss National Bank, to extend the liquidity swap
arrangements with the Federal Reserve up to 1 August 2012. The Bank of Japan will consider the
extension at its next monetary policy meeting. The swap arrangements established in May 2010 had been
authorised until 1 August 2011. The Governing Council decided to continue to conduct US dollar liquidityproviding operations with a maturity of seven days. These operations will continue to take the form of
repurchase operations against eligible collateral and will be carried out as fixed rate tenders with full
allotment. The ECB will keep the necessity, frequency and maturity of its US dollar repo operations under
review.
Information on related actions that are being taken by other central banks is available at the following
websites:
Federal Reserve Board: http://www.federalreserve.gov
Bank of England: http://www.bankofengland.co.uk
Swiss National Bank: http://www.snb.ch
Bank of Canada: http://www.bankofcanada.ca

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