Bahaj, Saleem

Reis, Ricardo

Yale University

EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Resource Library 4-8-2022 Central bank swap lines during the Covid-19 pandemic Saleem Bahaj Ricardo Reis https://elischolar.library.yale.edu/ypfs-documents2/725  This resource is brought to you for free and open access by the Yale Program on Financial Stability and EliScholar, a digital platform for scholarly publishing provided by Yale University Library. For more information, please contact ypfs@yale.edu. London School of Economics 8 April 2022 Central bank swap lines during the Covid-19 pandemic Saleem Bahaj, Ricardo Reis Summary  “Facing visible strain in dollar funding markets during the Covid-19 pandemic, the Fed lowered the rate on the swap lines it had with five other central banks, and opened new ones in nine other currencies. Some of these were used, some not. We use this variation to show the impact of the swap lines on CIP deviations across currencies. The results confirm the analysis in Bahaj and Reis (2019): the swap lines put a ceiling on CIP rates only around the time of an auction.” To view this article in its entirety please use the link provided below: View Full Article  Recommended Citation Bahaj, Saleem, and Ricardo Reis. 2022. “Central Bank Swap Lines during the Covid-19 Pandemic.” Covid Economics, no. 2 (April): 12. https://personal.lse.ac.uk/reisr/papers/20-covicbswaps.pdf 

Central bank swap lines during the Covid-19 pandemic

https://elischolar.library.yale.edu/context/ypfs-documents2/article/1720/viewcontent/bahajreisscovid1.pdf

Central bank swap lines during the Covid-19 pandemic

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