"While decisions on central bank liquidity swaps come from the Fed, it is the US Congress that grants the Federal Reserve its authority. On top of that, the Fed is exposed to political pressure from Congress."

#Liquidity is bank #reserves, which permits money for #banks.

European banks rely on the Federal Reserve for dollar liquidity in a crisis – what happens if the Fed decided to turn off the dollar tap?

https://positivemoney.org/eu/update/europe-s-imperative-to-de-dollarise-in-a-world-of-erratic-us-leadership/

#FX #finance #stocks #money #markets #Fed #ECB #swaps #banking