Board of Governors of the Federal Reserve System

Central Bank Liquidity Swaps

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank have taken coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. In addition, the Federal Reserve has established temporary dollar liquidity swap lines with nine additional foreign central banks.

These facilities serve as an important liquidity backstop to ease strains in global funding markets, thereby helping to mitigate the effects of such strains on the supply of credit to households and businesses, both domestically and abroad.

• Frequently Asked Questions (March 19, 2020)

Related Press Releases

• Federal Reserve Board announces the extensions of its temporary U.S. dollar liquidity swap lines and the temporary repurchase agreement facility for foreign and international monetary authorities (FIMA repo facility) through March 31, 2021
  (July 29, 2020)
• Coordinated central bank action to further enhance the provision of U.S. dollar liquidity
  (March 20, 2020)
• Federal Reserve announces the establishment of temporary U.S. dollar liquidity arrangements with other central banks
  (March 19, 2020)
• Coordinated Central Bank Action to Enhance the Provision of U.S. Dollar Liquidity
  (March 15, 2020)