February 7, 2013 / 9:15 PM / in 5 years

FX swaps with foreign cenbanks $1.302 bln in latest week-NY Fed

NEW YORK, Feb 7 (Reuters) - The Federal Reserve provided $1.302 billion in liquidity to foreign central banks in the latest week via its swap lines, New York Fed data showed on Thursday.

The European Central Bank was the only central bank to tap the swap lines. The ECB was provided $1.0 billion for a term of seven days at a rate of 0.63 percent, while the remaining $302 million was for 84 days and a rate of 0.63 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 emergence of strains in short-term funding markets in Europe.

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