establishing temporary reciprocal currency swap lines, or facilities, with foreign central banks designed to ameliorate dollar … abroad and stresses in the money markets. Furthermore, the facilities have been an integral part of the central bank toolbox …

Federal Reserve began to establish or expand Temporary Reciprocal Currency Arrangements with fourteen other central banks …. These central banks had the capacity to use the swap facilities to provide dollar liquidity to institutions in their …, suggests that the dollar swap lines among central banks were effective at reducing the dollar funding pressures abroad and the …