The New York Fed is authorized by the Federal Open Market Committee (FOMC) to maintain swap arrangements with certain foreign central banks.
-
-
Introducing the New York Innovation Center: Delivering a central bank innovation execution
Do you have a Freedom of Information request? Learn how to submit it.
See the world's largest accumulation of gold as you learn about the New York Fed and Federal Reserve System on a free tour.
The latest Annual Report chronicles the impact of Federal Reserve policies and includes data on the New York Fed's operations.
-
-
-
The mission of the Applied Macroeconomics and Econometrics Center (AMEC) is to provide intellectual leadership in the central banking community in the fields of macro and applied econometrics.
The Center for Microeconomic Data offers wide-ranging data and analysis on the finances and economic expectations of U.S. households.
The monthly Empire State Manufacturing Survey tracks the sentiment of New York State manufacturing executives regarding business conditions.
-
-
-
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Need to file a report with the New York Fed? Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot.
The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
-
-
-
The New York Fed provides a wide range of payment services for financial institutions and the U.S. government.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
The New York Fed has been working with tri-party repo market participants to make changes to improve the resiliency of the market to financial stress.
-
-
-
We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
This Economist Spotlight Series is created for middle school and high school students to spark curiosity and interest in economics as an area of study and a future career.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
-
Central Bank Swap Arrangements
Central Bank Liquidity Swap Lines
The Federal Reserve has standing liquidity swap lines in place since October 31, 2013, with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank. Specifically, two types of liquidity swap lines were established to improve liquidity conditions in money markets in the United States and abroad during times of market stress:
- U.S.-dollar liquidity swap lines operate by providing foreign central banks with the capacity to deliver U.S.-dollar funding to institutions in their jurisdictions.
- Foreign-currency liquidity swap lines operate by providing the Federal Reserve with the capacity to offer liquidity to U.S. institutions in currencies of the counterparty central banks (that is, in Canadian dollars, sterling, yen, euros, and Swiss francs).
SWAP ARRANGEMENTS DOCUMENTATION
The New York Fed undertakes certain small value transactions from time to time for the purpose of testing operational readiness. The results of small value exercises of the central bank liquidity swap lines are published weekly.
North American Framework Agreement Swap Lines
In 1994, the New York Fed entered into bilateral currency swap lines (also referred to as reciprocal currency arrangements) of $2 billion with the Bank of Canada and $3 billion with the Bank of Mexico for the purpose of promoting orderly currency exchange markets. These lines were established under the North American Framework Agreement (NAFA). Mexico also has a $9 billion NAFA swap line with the U.S. Treasury, which the New York Fed manages as fiscal agent of the United States as directed by the U.S. Treasury.
Data
Reports
Videos
Central Bank Swap Arrangements, Explained
Why Swap Lines Are in the U.S. National Interest (2012)
Liberty Street Economics Blog
Related New York Fed Content
Related External Content
By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement. 
