For example, consistent disclosures are important not only to enable individual financial firms to measure and manage their exposure to climate-related financial risks, but also to support financial stability more broadly by helping the market to accurately price that risk. Given  See Board of Governors of the Federal Reserve System (2020), Supervision and Regulation Report (Washington: Board of Governors, November), https://www.federalreserve.gov/publications/files/202011supervision-and-regulation-report.pdf.
In the spring of 2008, the ECB established a swap line with the Fed, with a view of lending dollars to euro area banks. The majority of the Danish banks did not have access to this facility. Many financial institutions in Europe already depended on short-term funding in both dollars and euro.