Faced with the risk of a fast-moving loss of confidence in the stability of the financial system, the Fed is now offering daily currency swaps to ensure banks in Canada, Britain, Japan, Switzerland and the euro zone would have the dollars needed to operate. (Reporting by Balazs Koranyi Editing by Francesco Canepa)
Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net)) FRANKFURT, March 20 (Reuters) - Euro zone banks borrowed
just $5 million from the European Central Bank on Monday via an
enhanced, seven-day dollar swap facility unveiled late on Sunday
in cooperation with the U.S. Federal Reserve.
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