Coffey, Niall; Hrung, Warren B.; Sarkar, Asani - 2009 - Rev.
Federal Reserve to foreign central banks via reciprocal currency arrangements (swap lines) reduced CIP deviations. In … particular, the announcement on October 13, 2008, that the swap lines would become unlimited reduced CIP deviations substantially …. These results indicate a breakdown of arbitrage transactions in the international capital markets during the crisis that …