Thursday, December 1, 2011

EU - Hearing before the Plenary of the European Parliament on the occasion of the adoption of the Resolution on the ECB’s 2010 Annual Report

Introductory statement by Mario Draghi, President of the ECB,
Brussels, 1 December 2011


Honourable members of the European Parliament,

I am delighted to be making my first appearance here as President of the European Central Bank (ECB) and I am honoured to present to you the ECB Annual Report for 2010...


"...In addition, liquidity in US dollars has been offered to banks for three-month periods. Yesterday, in a globally coordinated action with the Federal Reserve, the Bank of Japan, the Bank of England, the Bank of Canada and the Swiss National Bank, we have agreed to lower the price on US dollar provision in other constituencies including the euro area. We have furthermore agreed, as a contingency measure, to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of the currencies, should market conditions so warrant..."


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