# ECB and Bank of England activate currency swap arrangement for possible provision of euro to UK banks

> The European Central Bank and Bank of England activated a standing swap line allowing the BoE to offer euros to UK banks weekly. The Eurosystem also stands ready to lend sterling to euro area banks if needed. The step is a precautionary liquidity measure tied to Brexit uncertainty.

- Date: 2019-03-05 · published 2019-03-05T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/60349-ecb-and-bank-of-england-activate-currency-swap-arrangement-for-possible
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

This is a precautionary financial-stability measure with no direct effect on feed commodity supply or demand. It may marginally support sterling and euro liquidity conditions.

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/pr/date/2019/html/ecb.pr190305~be78defb5c.en.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.