Amid renewed fears that the euro-zone crisis could put fresh pressure on short-term funding, an unidentified bank made use of the Federal Reserve’s swap facility via the Swiss National Bank, borrowing $200 million earlier this month.
The SNB disclosed that it applied for $200 million of dollar swaps on Aug. 10, at a rate of 1.08%. The funds were paid back on Aug. 18.
In a sign of the nervousness sweeping the markets, both UBS AG and Credit Suisse Group, Switzerland’s two largest banks, issued denials Friday …
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