The Swiss National Bank’s swap lines with the Federal Reserve have hit highs lately as Swiss banks tapped out their zero interest rate allowances with the central bank. Last month the figure topped US$7 billion in an upward move that began in mid-October and has continued through mid-December. We look at how this business is impacting SIX Repo at both domestic and international firms.
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SIX Repo on the SNB’s US dollar swap lines and SIX repo activity (Premium)
