ECB soothes concern over Brexit swap line

The European Central Bank has said that its swap arrangement with the Bank of England, which would help financial firms access liquidity in a foreign currency, would not be affected if the UK leaves the EU with no deal.

  • By Jasper Cox
  • 20 Dec 2018

Swap lines were a largely forgotten central bank tool that came back into use during the financial crisis in order to stabilise the banking system, by keeping alive access to foreign currencies.

Market participants have not relied on the Bank of England's swap lines since that point, but ...

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