ECB has no doubts Fed swap lines will remain a pillar of stability, VP says
FRANKFURT, May 21 (Reuters) - The European Central Bank's standing agreement with the U.S. Federal Reserve to access dollars in case of tensions in global funding markets is a pillar of stability and will remain in place, ECB Vice President Luis de Guindos said on Wednesday.
"The agreement that we have with the Federal Reserve, I do not have any doubts that will continue being an important pillar for financial stability globally," de Guindos told a press conference. "These agreements, these swap lines, have been very positive for financial stability on both sides of the Atlantic."
Some European central banking and supervisory officials have questioned whether they can still rely on the Fed to provide dollar funding in times of market stress.
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