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U.S. Federal Reserve and New Zealand’s central bank expand liquidity operations; New Zealand caps deposit guarantee scheme

  • Alston & Bird LLP
  • -
  • New Zealand, USA
  • -
  • October 28 2008

Today, the Federal Reserve and the Reserve Bank of New Zealand announced a temporary reciprocal currency arrangement (swap line) “to address ongoing, elevated pressures in U.S. dollar short-term funding markets.”