20 an agreement on a reciprocal currency
swap scheme with the Bank of England.
Among the lucrative commercial agreements signed, the most anticipated reciprocal currency
deal was the most significant.
The People's Bank of China (PBOC) and the Reserve Bank of New Zealand today announced the renewal of a reciprocal currency
arrangement (swap line) to support the settlement of cross border transactions between New Zealand and Chinese businesses.
Central banks responded by implementing reciprocal currency
arrangements (RCAs), or swaps, which quickly increased in size and with some becoming unlimited.
Additionally, income from reciprocal currency
arrangements with other central banks and investments denominated in foreign currencies totaled $2.6 billion in 2009.
The US Federal Reserve and the Bank of Korea (BOK) agreed to establish a US$30 billion temporary reciprocal currency
arrangement (swap line).
The Bank of Canada's move is part of a worldwide effort among central banks to expand, by USD330bn, reciprocal currency
swap arrangements to boost US dollar availability, The National Post said in a report.
The Fed also said it is establishing reciprocal currency
swap lines worth $20 billion with the ECB and worth $4.0 billion with the SNB.
arrangements, September 28, 2001 Millions of dollars Institution Amount of Outstanding, facility Sept.
Such intervention is sometimes undertaken in cooperation with foreign monetary authorities using reciprocal currency
official reciprocal currency
arrangements with foreign monetary authorities:(3) Foreign drawings, or -3,500 ...