Danmarks Nationalbank has agreed with the Federal Reserve to temporarily establish a bilateral swap line to address the increased need for short-term liquidity in US dollar.

Danmarks Nationalbank's swap facility with the Federal Reserve amounts to a total of 30 billion dollars and is effective for at least six months. Against this background, Danmarks Nationalbank conducts auctions, where US dollar liquidity is offered to the monetary policy counterparties of Danmarks Nationalbank. Loans are provided against Nationalbanken's eligible collateral for monetary policy operations.

The minimum bid rate and the maximum volume will be announced on the auction day at 10.00 together with Danmarks Nationalbank's other market operations.

Monetary counterparts can submit their bids in the bid form (found under documents in the right side) between 1.30 pm and 2.30 pm. The auction results will be published 3.00 pm. via the news agencies and this webpage, cf. the auction terms found under documents.

The terms has been updated 6 April to reduce the add-on for fx risk when posting collateral. The updated terms and a track changes version is available under documents.

 Auction schedule