http://www.bloomberg.com/apps/news?pid=20601087&sid=amiI5qIW8gDI
May 10 (Bloomberg) -- The U.S. Federal Reserve will restart its emergency currency-swap tool by providing as many dollars as needed to European central banks to keep the continent's sovereign-debt crisis from spreading.
The swaps with the European Central Bank, Bank of England and Swiss central bank will allow them to provide the "full allotment" of U.S. dollars as needed, the Fed said late yesterday in a statement in Washington. A separate swap line with the Bank of Canada will support as much as $30 billion, the Fed said, and the Bank of Japan said it approved reactivating its U.S. line. The swaps were authorized through January 2011.
Euro, Global Stocks, Oil Rally on European Loan Plan; Treasuries Retreat
U.S. Stocks Advance, S&P 500 Jumps the Most in a Year on EU Rescue Package
Dollar Libor Holds Near Nine-Month High After EU's $1 Trillion Loan Accord
Trichet Indicates Government Bond Purchases Not Supported by Whole Council
EU Crafts a $962 Billion Show of Force to Bolster Euro, Halt Global Crisis
RACE TO AVERT CRISIS...
MARKETS SURGE...
WORLD INDICES...
LAST-DITCH BID: $1 TRILLION EU EMERGENCY FUND!
Bank Crunch Deepens; Default Swaps Reach Records...
Tensions simmer over pension cuts...
Euro 'could reach parity with dollar'...
SHE PAYS THE PRICE: Voters rebuke Merkel for Greek loan...
'America has good reason to worry'...
MOODY'S: U.S. Debt Shock May Hit As Soon As 2013...
Fed Restarts Currency-Swap Tool...
FANNIE MAE seeks $8.4B in aid after 1Q loss...
