June 3, 2020 / 4:29 PM / a month ago

Chilean Central Bank says speaking to US, Chinese cenbanks to broaden forex lines

SANTIAGO, June 3 (Reuters) - Chile’s central bank said on Wednesday that it was speaking to its US and Chinese counterparts to increase flexibility in foreign exchange operations after the blow to its economy and commerce dealt by the shutdown aimed at slowing the spread of the new coronavirus.

The bank said it had asked the New York Federal Reserve to register for overnight repo operations to facilitate credit swaps, announced in March to help foreign central banks during the crisis to exchange their holdings of U.S. Treasury securities for overnight dollar loans.

The bank said it was also speaking to China’s Central Bank to expanding an existing currency swap agreement worth 22 billion yuan ($3 billion).

Reporting by Fabian Cambero, writing by Aislinn Laing

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