Fed injects 180 billion into global FX swap lines

trying to get details.

There is a problem where Libor is traded at the open in europe, and they arn't getting lequidity to get libor down.

this is an attempt to get libor down.

DJ ECB: Intl Ctrl Bks Move To Improve Global Dollar Liquidity

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FRANKFURT (Dow Jones)--International central banks Thursday announced new coordinated measures to address pressures in U.S. dollar funding markets, the European Central Bank said.

The central banks involved in the coordinated moves include the Bank of Canada, the Bank of England, the ECB, the Federal Reserve, the Bank of Japan, and the Swiss National Bank. The measures are designed to "improve the liquidity conditions in global financial markets," the ECB said.

The ECB said it will offer overnight dollar funds of up to $40 billion provided by a reciprocal currency swap arrangement with the U.S. Federal Reserve.

In addition, the ECB said it would widen the dollar amount offered in its 28-day term auction facility to $25 billion, and to $15 billion for the 84-day dollar auctions.

"Overall, the dollar funding operations conducted by the Eurosystem could reach an outstanding amount of $110 billion, compared to the current $50 billion," the ECB said.

Already Thursday, the ECB offered overnight dollar funds with an intended volume of $40 billion, to be allotted at a single rate.

Following the announcement, overnight euro interbank rates receded to 4.37%, from 4.55% in early morning trade, well in excess of the ECB's 4.25% policy rate.