Central Banks
ECB Usage of Fed Swap Lines Steady, SNB Opts Not to Use Again
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The European Central Bank tapped swap lines with its US counterpart for just $488.5 million in the past week — essentially rolling over its usage from the prior week — while the Swiss National Bank opted not to revisit the facility in the same period.
That ECB total for the week through April 5 compares to usage of $482.5 million in the comparable timeframe through March 29, according to data released by the Federal Reserve. The SNB, meanwhile, had drawn down $100 million on the facility in that prior seven-day period.