ECB activates the swap line with Sveriges Riksbank
The European Central Bank (ECB) and Sveriges Riksbank have today decided to activate their temporary reciprocal currency agreement (swap line) whereby the Swedish central bank can borrow euro from the ECB in exchange for Swedish kronor.
The ECB and Sveriges Riksbank signed a swap agreement on 20 December 2007 with the aim of facilitating the functioning of financial markets and providing euro liquidity to the latter if needed. The maximum amount that can be borrowed by Sveriges Riksbank is EUR 10 billion, for a maturity of up to three months.
Further details can be found in the press release published today by Sveriges Riksbank.