ECB, Bank Of England Extend Swap Line To Sept. 2012

(RTTNews) - The European Central Bank and the Bank of England announced on Thursday that they are extending their temporary reciprocal swap agreement (swap line) to September 28, 2012.

The central banks had established the swap line in December 2010 to enable the ECB to provide sterling liquidity to its counterparties. The agreement was set to expire in September this year.

The UK central bank said it will provide the ECB with sterling in exchange for euro up to a limit of GBP 10 billion on request.

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