BoE renews swap deals with other central banks

LONDON Thu Dec 13, 2012 1:42pm GMT

A bus passes the Bank of England in the city of London November 26, 2012. REUTERS/Olivia Harris

A bus passes the Bank of England in the city of London November 26, 2012.

Credit: Reuters/Olivia Harris

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LONDON (Reuters) - The Bank of England said on Thursday that it had renewed currency swap deals with the U.S. Federal Reserve, European Central Bank, Swiss National Bank and Bank of Canada.

The swap deals were first negotiated to ease money market tensions after the financial crisis, and have now been extended by another year until February 2014.

The BoE added it would continue its operations to provide 7-day and 84-day dollar finance to British banks until further notice. The operations generally see very low demand.

(Reporting by David Milliken and Olesya Dmitracova)

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