Central bank swap lines

Publication date: 30 Mar 2020 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Moessner, R, Allen, B | JEL classification: E52, E58 | NIESR discussion paper number: 513
In March 2020, the Federal Reserve enhanced its existing swap lines with foreign central banks, and introduced additional temporary swap lines with other central banks, in order to support the smooth functioning of U.S. dollar funding markets during the coronavirus epidemic. The Federal Reserve...
Publication date: 29 Nov 2017 | Publication type: NIESR Discussion Paper | Authors: Moessner, R, Allen, B | External authors: Galati, G, Nelson, W | JEL classification: E52, E58, F31 | NIESR discussion paper number: 482
We study the use of US dollar central bank swap lines as a tool for addressing dislocations in the foreign currency swap market against the USD since the global financial crisis. We find that the use of the Federal Reserve’s USD central bank swap lines was mainly related to tensions in US money...