SNB and Poland arrange currency swap

The Swiss National Bank and the National Bank of Poland on Friday agreed a currency swap facility to compensate for a lack of Swiss franc liquidity.

Under the terms of the facility, Poland will swap euros for Swiss francs, which will then be pumped into the banking sector in exchange for zlotys.

The central banks will tend to offer seven-day loans at a fixed price through the facility, though longer-term loans could be offered "from time to time".

The central banks failed to specify how much

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