Danmarks Nationalbank established a swap line with the Fed on 24 September 2008. The need for this facility was highlighted by the fact that volumes offered in our dollar auctions were drawn upon in full. The swap line with the Fed – totalling USD 15 billion – was fully exercised after three auctions.
It said, in effect, “one Bank; one policy; one voice”. Secondly, the number of public speaking engagements was kept limited, but unspecified, with the Quarterly Bulletin, the statement on foreign reserves and the annual Governor’s address to shareholders of the Bank being the only documents whose release could be announced in advance.