Wednesday 29th October 2008
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"While there is no need to use the facility right now, it is useful to have this capacity if markets become dysfunctional," Deputy Governor Grant Spencer said in a statement emailed to BusinessWire.
The temporary reciprocal currency is aimed at addressing "ongoing elevated pressures in US dollar short-term funding markets," the central bank said. The facility has been authorized through until April 30 next year.
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