WASHINGTON (AP) - April 6, 2009
The Fed says it will provide up to $45 billion to the Bank of
England, $108 billion to the European Central Bank, $99 billion to
the Bank of Japan and $35 billion to the Swiss National Bank.
Under currency swap arrangements, which were common last fall
when the credit crisis intensified, the Fed provides dollars in
exchange for reserves of the other nations' currencies.
The credit lines are intended to improve credit conditions in
global financial markets by increasing the international
availability of U.S. dollars.
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