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.

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Last Update: June 16, 2021