ECB gets lending hand by FED – FX swaps hit $500 million

European banking crisis is still an issue ECB policy makers need to address, yesterday the Federal Reserve said that it

European banking crisis is still an issue ECB policy makers need to address, yesterday the Federal Reserve said that it provided $500 million of liquidity to the European Central Bank in the latest week via its swap lines for foreign central banks.

It was the first time the ECB had tapped the swap lines since the week ended March 2 when it swapped $70 million.

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