Extension of US dollar swap facility

In parallel with the Bank of Canada, the European Central Bank, and the Swiss National Bank, the Bank of England is today announcing an extension of its temporary swap line with the Federal Reserve to Wednesday 1 August 2012.
Published on 29 June 2011

The Bank will continue its weekly tenders of US dollar funding at fixed interest rates each Wednesday until further notice, with counterparties able to borrow unlimited amounts against eligible collateral. The Bank will keep the necessity, frequency and maturity of its US dollar repo operations under review, in light of market conditions. 

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