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Fed increasing $ vs fx swap lines to ECB and others
Posted on September 18, 2008 at 07:06 AM EDT
[Skip to the end] This is an extension of credit to those CBs which functionally allows them to borrow (and thereby also get ’short’) USD, presumably to fund their local USD needs for their institutions short USD, and presumably to cover losses on their USD financial assets and to finance the remaining balances. The ECB has no [...]
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