Data Dictionary
Item Number J861
OTHER ASSETS: FOREIGN CURRENCY LIQUIDITY SWAP ARRANGEMENTSCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| FRBSJ861 | 2008-04-29 | 9999-12-31 | Yes | FR 34 |
Data Description:
Central bank currency swap arrangements are contractual agreements between two parties, the New York Reserve Bank and an authorized foreign central bank, whereby the parties agree to exchange their currencies up to a prearranged maximum amount, for an agreed-upon period of time (up to twelve months), at an agreed-upon interest rate. At the end of the agreement, the currencies are returned at the original contractual exchange rate along with compensation earned, in accordance with the agreements. These arrangements give the authorized foreign central bank temporary access to U.S. dollars. Drawings under the swap arrangements can be initiated by either party and must be agreed to by the other party.