Tuesday, May 11, 2010

First ECB USD Operation Provides $9.2B for 1 Week

The Fed and the ECB transacted the first in this new go around of FOREX swaps today. The results are here.

Observation: The Eurosystem lasted about 90 days without the benefit of this UNLIMITED access to collateralised US dollar funding at 1%. The previous program (supposedly) ended on February 1, 2010.

2 comments:

bubbleRefuge said...

Also he previous program was active throughout most of 2009, a period in which the Euro rallied.

Mike Norman said...

Good research, Matt!