Poland finalises Swiss currency swap agreement to protect banking sector

national-bank-of-poland

The Swiss National Bank (SNB) and the National Bank of Poland (NBP) on June 25 agreed a Swiss franc/zloty swap agreement. The deal would provide emergency assistance to banks in the event of a liquidity squeeze following problems in the interbank market.

"In the event of tensions in the Swiss franc interbank market, the facility enables the NBP to provide Swiss franc liquidity to banks in Poland," said a statement from the central banks. "All swap transactions require the SNB's prior approval

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