Sunlight Foundation

  1. With Fed foreign currency swaps on the rise, mystery remains which foreign banks benefit

    By Nancy Watzman Oct 19, 2011 10:52 a.m.

    Since the end of August, the European Central Bank has been drawing on the foreign currency swap line established by the U.S. Federal Reserve Board, recently securing $1.8 billion to lend to European banks, most of it over a three-month time period. But the ECB does not name which banks or institutions are receiving these dollars. Who gets the money is anybody's guess.

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