A Fed swap line has not been a source of stigma in the way that an IMF loan can be
steadfastly refuses to view itself as the world’s central bank, which is a pity, because it is becoming quite good at the job. One sign of its success is the stabilisation of the world’s reserve currency. The dollar spiked by over 8% against a basket of six other widely traded currencies between March 9th and 20th, as covid-19 panicked investors. But now the greenback is roughly back to where it was at the beginning of the year.
To fund themselves, these banks rely heavily on selling short-term dollar liabilities, including certificates of deposit and commercial paper, to investors. The traditional buyers of this paper are “prime” money-market funds . After the pandemic shattered global market confidence, investors began pulling their money out of these funds, and the funds, in turn, stopped buying the banks’ paper. That forced the banks to scramble for other sources of funding. Borrowing from each other became dearer .
The Fed has always been uncomfortable making quasi-diplomatic decisions about swap lines. It knows that by picking some countries, it risks sowing doubt about others. Turkey, for example, has long coveted a swap line. India also sought one, according to the, a newspaper. The swap-envy is telling. It shows that a Fed swap line is not a source of stigma in the way anloan can be. Brazil, with its comfortable stock of reserves, has not even used its swap line.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Tequila Mai Tai Recipe on Food52This riff on a Mai Tai swaps the rum for tequila and calls for a homemade orgeat that can be made with any nuts you have on hand, from macadamias to almonds.
続きを読む »
Pineapple, Coconut & Tequila Slushy Recipe on Food52This slushy, summery cocktail comes together with lots of help from your pantry (think: canned coconut milk, canned pineapple juice, and more). donjulio f52partner
続きを読む »
Makeup Artists Swear by These 11 Foundations for Mature SkinNo more sinking into fine lines or pores.
続きを読む »
Civic Nation BrandVoice: College Students Need Help: Here’s What You Can Do NowCollege students need help: Here’s what you can do now Sponsored by civicnation
続きを読む »
Renowned anthropologist Jane Goodall: Young people shouldn't look to become the next Bill GatesWorld-renowned anthropologist Jane Goodall has said young people should be striving towards different standards of success, besides money and fame.
続きを読む »
Jimin's Livestream: WatchJimin took to social media on Tuesday (June 16) to reflect on the success of Festa 2020 and give fans an update on BTS&39; forthcoming new album.
続きを読む »