made. In October 2008, the Swiss National Bank (SNB) entered a swap arrangement with the European Central Bank (ECB) to … provide Swiss franc liquidity to euro area banks. The SNB then announced similar Swiss-franc-for-euro swap arrangements with … funding rates had fallen, and the swap lines were allowed to expire …

banks. These central banks had the capacity to use these swap facilities to provide dollar liquidity to institutions in … their jurisdictions. This paper presents the developments in the dollar swap facilities through the end of 2009. The … research, as well as more descriptive accounts, suggests that the dollar swap lines among central banks were effective at …

reaction of inflation-linked swap (ILS) rates - a market-based measure of inflation expectations - to macroeconomic surprises …