Swiss National Bank and European Central Bank cooperation to provide swiss franc liquidity
On 15 October 2008, the Swiss National Bank (SNB) and the European Central Bank (ECB) jointly announced that they would conduct EUR/CHF foreign exchange swaps providing Swiss francs against euro with a term of 7 days at a fixed price to improve liquidity in short-term Swiss franc money markets. At that time, it was announced that this measure would remain in place as long as needed and at least until January 2009.
Today, the SNB and the ECB are jointly announcing that they will continue these one-week EUR/CHF foreign exchange swap operations at least until the end of April 2009 to support further improvements in the short-term Swiss franc money markets.
Further information about the EUR/CHF foreign exchange swaps of the ECB and the SNB is provided in separate instruction sheets available on the respective websites: http://www.ecb.europa.eu; http://www.snb.ch.