Fed to disclose details of currency swap pacts

WASHINGTON (BestGrowthStock) – The Federal Reserve plans to release on Tuesday extensive details related to a series of currency swaps it is reopening with other major central banks in an effort to calm markets roiled by the Greek debt crisis, a Fed official said.

The Fed plans to post the full legal contractual language with the other central banks, which include the European Central Bank, the Swiss National Bank and the central banks of England, Japan and Canada.

The Fed will also report weekly on the details of each of those swap lines, the official said.

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(Reporting by Mark Felsenthal, Editing by Andrea Ricci)

Fed to disclose details of currency swap pacts