This morning, the Federal Reserve announced that is has reached agreements with the Bank of England (BoE), the European Central Bank (ECB), the Bank of Japan (BoJ), and the Swiss National Bank (SNB) for the provision, if the need should arise, of foreign currency liquidity by the Federal Reserve to U.S. financial institutions. If drawn upon, these swap arrangements would support operations by the Federal Reserve to provide liquidity in sterling in amounts of up to £30 billion from the BoE, in euro in amounts of up to €80 billion from the ECB, in yen in amounts of up to ¥10 trillion from the BoJ, and in Swiss francs in amounts of up to CHF40 billion from the SNB. The foreign currency liquidity swap lines have been authorized through October 30, 2009, and resemble inverse operations for U.S. dollar liquidity provisions made last year.