Mon, Mar 30, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Currencies more

What’s a currency swap line?

Posted on 11 October 2013

The European Central Bank said Thursday it has signed a three-year, bilateral agreement with China’s central bank, which will be able to tap €45 billion ($60.9 billion) from the ECB in a move that will allow it to meet unexpected needs for foreign-denominated funds.
“The swap arrangement is intended to serve as a backstop liquidity facility and to reassure euro area banks of the continuous provision of Chinese yuan,” the ECB said. The ECB joins a number of central banks that have already signed similar agreements with China in a move aimed at promoting bilateral trades between the regions as well as ensuring stability of the markets………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39872 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
March 2015
S M T W T F S
« Feb    
1234567
891011121314
15161718192021
22232425262728
293031