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Communications

P.O. Box, CH-8022 Zurich
Telephone +41 44 631 31 11
Fax +41 44 631 39 10
Zurich, 6 April 2009

Central Banks announce expanded swap arrangements
The Bank of England, the European Central Bank (ECB), the US Federal Reserve, the Bank
of Japan and the Swiss National Bank (SNB) are announcing swap arrangements that
would enable the provision of foreign currency liquidity by the Federal Reserve to US
financial institutions. Should the need arise, euro, yen, sterling and Swiss francs would be
provided to the Federal Reserve via these additional swap agreements with the relevant
central banks. Central banks continue to work together and are taking steps as appropriate
to foster stability in global financial markets.
Swiss National Bank action

Press release

The Swiss National Bank agreed to enter into a new temporary currency swap arrangement
with the US Federal Reserve. The swap line enables the Federal Reserve to draw Swiss franc
liquidity of up to CHF 40 billion against U.S. dollars when needed. The new swap line
mirrors the existing arrangement that enables the SNB to draw US dollars against Swiss
francs. Both swap arrangements are authorized through 30 October 2009.