The Federal Open Market Committee has authorized re-establishment of its temporary U.S. dollar liquidity swap arrangement with the Bank of Japan. This arrangement is similar to the arrangements announced yesterday with the Bank of England, the European Central Bank, and the Swiss National Bank in that it will provide the Bank of Japan with the capacity to conduct tenders of U.S. dollars at fixed rates for the full allotment.
This arrangement, like those announced yesterday, has been authorized through January 2011.
Information on the action by the Bank of Japan is available at its website (18 KB PDF).
U.S. Dollar Liquidity Swaps--Frequently Asked Questions
