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Swaps Will Get Dollars Into European Banks' Hands
Keywords:
Under the coordinated action by central banks in the U.S., Canada, Japan, Switzerland and the ECB, the U.S. Federal Reserve lends dollars to the ECB, getting euros in return, and the ECB in turn provides European banks with the U.S. dollars. The European banks were facing a shortage of U.S. dollars in November 2011. Money market funds in the U.S. had pulled back from investing in eurozone bonds in the third quarter of 2011, adding to the shortage of dollars. This action eases liquidity concerns.
Coordinated action by central bankers in Europe, Japan, China and the U.S. in 2011-2013
12/01/2011
Action taken on Nov. 30, 2011, by central banks of U.S., Canada, Switzerland, EU and Japan, to ease liquidity problems, as borrowting rates for Italy edged up to 8% and rates for Spain, France, and other EU coountries edged higher. A German bond auction saw weak response.
Grouped Articles
Central Bankers Hone Tools to Pop Bubbles
Wall Street Journal 07/08/2013
Close Ties Facilitated Coordinated Moves
Wall Street Journal 12/01/2011
Swaps Will Get Dollars Into European Banks' Hands
Wall Street Journal 12/01/2011
Wall Street Journal 12/01/2011
Euro-Zone Banks Tap Big ECB Loans
Wall Street Journal 12/21/2011
Staring Into the ECB's Mini Bazooka
Wall Street Journal 12/21/2011
The U.S. Fed's crisis dollar-lending program with the ECB and the central banks of U.K. , Canada, Japan and Switzerland in 2011
06/29/2011
Extension of the dollar-lending program beyond August 2, 2011 by the Fed as the eurozone faces the crisis in Greece.
Grouped Articles
Fed Extends Lending Program for Central Banks
Wall Street Journal 06/29/2011
Central Banks Run Short of Policy Options
Wall Street Journal 08/04/2011
Swaps Will Get Dollars Into European Banks' Hands
Wall Street Journal 12/01/2011
Close Ties Facilitated Coordinated Moves
Wall Street Journal 12/01/2011
Wall Street Journal 12/01/2011
6 Central Banks Act to Buy Time in Europe Crisis
New York Times 11/30/2011
Dwindling policy options for central banks in Europe and the U.S. in 2011-2012
08/04/2011
Fewer policy options for the central banks of Europe and the U.S., the ECB and the Federal Reserve, with rates close to zero and higher inflation.
Grouped Articles
Shares Rise on Wall Street and in Europe
New York Times 06/06/2012
Central Banks Run Short of Policy Options
Wall Street Journal 08/04/2011
Wall Street Journal 08/31/2011
Close Ties Facilitated Coordinated Moves
Wall Street Journal 12/01/2011
Swaps Will Get Dollars Into European Banks' Hands
Wall Street Journal 12/01/2011
Fed Board Is Divided on Stimulus
New York Times 07/11/2012
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