Lemanik

06-03-2019

ECB and Bank of England activate swap line for Brexit

The European Central Bank and the Bank of England have activated a permanent swap line, increasing the pace of Brexit preparation measures, scheduled for the end of the month. Under the agreement, the Bank of England will offer euro-denominated loans to British banks on a weekly basis and the ECB will receive GBPs from the Bank of England in exchange for euros. Continue reading on REUTERS