3/19, 2:18 PM (Source: TeleTrader)
more TeleTrader news

Fed sets up dollar swap lines with central banks

United States Federal Reserve announced on Thursday the establishment of dollar swap lines with several other central banks from the world for at least six months to reduce pressures in global dollar funding markets.

"These new facilities will support the provision of US dollar liquidity in amounts up to $60 billion each for the Reserve Bank of Australia, the Banco Central do Brasil, the Bank of Korea, the Banco de Mexico, the Monetary Authority of Singapore, and the Sveriges Riksbank and $30 billion each for the Danmarks Nationalbank, the Norges Bank, and the Reserve Bank of New Zealand," Fed's Board of Governors stated.

Earlier in the day, Treasury Secretary Steven Mnuchin reiterated the coronavirus crisis won't push the country's economy into recession, insisting results for the fourth quarter of the year will be "gigantic."

Breaking the News / ND