Any new statistical reporting will place an increased burden on the reporters and strain their resources. And let’s not forget that central bank statisticians and data reporters anyway have to cope with a whole bunch of new challenges.
This unmet demand for dollars was spilling over into U.S. markets, including the federal funds market. To address this issue, the Federal Reserve has cooperated with foreign central banks in establishing what are known as reciprocal currency arrangements, or liquidity swap lines. In these arrangements, the Federal Reserve provides dollars to foreign central banks which they, in turn, lend to banks in their jurisdictions.