MAS establishes US$60 bil swap facility with US Fed to ease liquidity strainSINGAPORE (March 19): The Monetary Authority of Singapore (MAS) has announced the establishment of a US$60 billion (S$86 billion) swap facility with the US Federal Reserve, as part of coordinated central bank actions as global financial markets threaten to collapse under the strain of the Covid-19 pandemic.
The Federal Reserve earlier this week on March 15 had announced the enhancement of the standing US Dollar (USD) liquidity swap line arrangements with five other central banks — the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.