ECB extends euro liquidity lines with two central banks

PRESS RELEASE

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Provider: 
ECEC
URL: 
https://www.ecb.europa.eu//press/pr/date/2020/html/ecb.pr200828~412bf7c3fd.en.htmlhttps://www.ecb.europa.eu//press/pr/date/2020/html/ecb.pr200828~412bf7c3fd.en.html
Retrieved on: 
Samedi, août 29, 2020
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Tags: 
Financial services, Banking, Economy, European Central Bank, Eurozone, Euro, Croatian National Bank, Currency swap, Central bank
Résumé
Key Points: 
  • PRESS RELEASE

    ECB extends euro liquidity lines with two central banks

    28 August 2020

    The European Central Bank (ECB) and the Hrvatska narodna banka (Croatian National Bank, HNB) as well as the Banca Naional a Romniei (National Bank of Romania, BNR) have agreed to extend the respective euro liquidity lines by six months until the end of June 2021.

  • The lines were established earlier this year to provide euro liquidity to financial institutions in the two countries via their respective national central banks to address possible euro liquidity needs in the presence of market dysfunctions due to the COVID-19 shock.
  • The euro liquidity lines had been agreed initially until the end of 2020.
  • Through a swap line agreement, the HNB can borrow up to 2 billion from the ECB in exchange for Croatian kuna.
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