In addition, liquidity in US dollars has been offered to banks for three-month periods. Yesterday, in a globally coordinated action with the Federal Reserve, the Bank of Japan, the Bank of England, the Bank of Canada and the Swiss National Bank, we have agreed to lower the price on US dollar provision in other constituencies including the euro area.
We have furthermore agreed, as a contingency measure, to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of the currencies, should market conditions so warrant.