Fed official reports on success of dollar swap lines

Capitol Hill

Steven Kamin, director of the division of international finance at the Federal Reserve, has testified on the subject of the European financial situation before the Committee on Banking, Housing and Urban Affairs of the US Senate.

Kamin discussed the positive impact currency swap lines have had on the dollar funding markets, and reassured the committee there was no risk involved for the US in extending these agreements.

The Federal Reserve has a number of swap lines in place with various major

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