March 17, 2016 / 8:08 PM / in a year

New York Fed-FX swaps with foreign central banks total $76 million in latest week

The corner stone of The New York Federal Reserve Bank is seen in New York's financial district March 25, 2015. TBrendan McDermid

NEW YORK (Reuters) - The Federal Reserve provided $76 million of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.

The European Central Bank swapped $74 million with a term of 7 days and a rate of 0.87 percent.

The Bank of Japan swapped $2 million with a term of 7 days and a rate of 0.87 percent.

The Federal Reserve has established swap arrangements with the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank, and the Bank of Japan in an effort to respond to the reemergence of strains in short-term funding markets in Europe.

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