Leading central banks make emergency swap lines permanent

Currency compass

Six leading central banks have said they will keep in place the swap arrangements they set up in 2007 to fend off an international liquidity crunch.

The Federal Reserve, European Central Bank (ECB), Bank of England (BoE), Bank of Japan (BOJ), the Bank of Canada and the Swiss National Bank (SNB), announced yesterday that the swap lines – which were due to expire on February 1 next year – will remain in place until further notice.

The swap agreements mean central banks are able to provide local

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