BoE, ECB announce euro-sterling swap line to aid Ireland

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The Bank of England and European Central Bank (ECB) on Friday opened a temporary euro-sterling swap line.

If requested, the Bank will provide the ECB with sterling in exchange for euro up to a limit of £10 billion ($15.5 billion).

The ECB said that the measure "allows pounds sterling to be made available to the Central Bank of Ireland as a precautionary measure, for the purpose of meeting any temporary liquidity needs of the banking system in that currency." Both the ECB and the Bank stressed th

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