FRANKFURT (MNI) – The following is a verbatim text of the Swiss
National Bank’s addition to a joint press-release issued earlier with
other major central banks:
“The Swiss National Bank (SNB) has decided, in cooperation with
other central banks, to establish a temporary network of reciprocal swap
lines.
This action will allow the SNB to provide Swiss francs to these
central banks when required, as well as enabling the SNB to provide
liquidity, should it be needed, in Canadian dollars, British pounds,
Japanese yen, and euros (in addition to the existing operations in US
dollars).
The SNB continues to closely monitor the developments in global
money markets.
The SNB intends to continue conducting US dollar
liquidity-providing repo operations at terms of one week and three
months.”
[TOPICS: M$$CR$,M$X$$$,M$$EC$,MI$$$$,MMUFE$]
