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MNI BRIEF: BIS Carstens Hopes For Expanded Dollar Swaps

LONDON (MNI)

It would be good to find a wider and more solidified method of providing dollar support to an extended list of global central banks in the times of market stress, Agustin Carstens, the General Manager at the Bank for International Settlements said Friday. However, noting that the Federal Reserve were the back stop for such facilities, he accepted there were political restrictions on such a move.

Speaking to an FT online conference, Carstens also noted that the People's Bank of China and the European Central Bank had also offered extended swap facilities to regional central banks at the height of the crisis in March.

On Thursday, three Scandinavian central banks announced bilateral currency swap plans.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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