Federal Reserve loaned a total of $5.4 billion to the European Central Bank through its currency swap line program #ECB $FED #FED

 
   Of DOW JONES NEWSWIRES
  NEW YORK (Dow Jones)--The Federal Reserve loaned a total of $5.4 billion to the European Central Bank through its
currency swap line program in the week ended Wednesday.
  The seven-day funds were loaned at 1.23% through a program that the Fed revived to improve liquidity conditions in
global money markets, the New York Fed reported Thursday. The Fed counted as outstanding $6.64 billion.
  The Bank of England, Swiss National Bank, Bank of Japan, and Bank of Canada didn't draw on their facilities, according
to the Fed report.
  In the prior week, the ECB drew $1.03 billion to loan out to euro zone banks, and the BOJ drew $210 million; both were
in 84-day funds and at a 1.24% rate.
  The Fed releases details about the use of its foreign currency swap lines weekly, on Thursdays, in reports that will
be posted at http://www.newyorkfed.org/markets/fxswap/.
  The Fed revived its emergency dollar lending programs last month with five major central banks after concerns about
fiscally challenged euro-zone nations came to a head, creating tensions in short-term lending markets and sparking a
move away from risky assets and rally in the U.S. Treasury market. The reopening of the swap lines came in conjunction
with a European Union and International Monetary Fund EUR750 billion bailout package for debt-laden euro-zone nations
and as the ECB started buying bonds of some member states.