
The ECB will complement its 28-day dollar operations with auctions for 84-day funds, together with the U.S. Federal Reserve and the Swiss National Bank.
The bank said it will offer dollar funds on a bi-weekly basis, alternating between 28-day operations for $20 billion and 84-day operations for $10 billion, beginning Aug. 8.
The ECB's swap line with the Federal Reserve has been extended to $55 billion, from $50 billion formerly.
However, the ECB said the overall amount outstanding in the auctions will remain at $50 billion, with the exception of a temporary increase to $55 billion in the initial phase of the offers.
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