Financial Times -- Why FX swap lines are back
Published just when the Covid-19 pandemic hit international financial markets, this essay at Financial Times Alphaville explored what options of central bankers at the US Federal Reserve had.
International money markets were freezing up. Central banks of G7 countries, plus a select few emerging maket economies, extended eurodollar liquidity through fx swap arrangements. The piece rightly predicted, what the Fed would do the following week.
