Media Release Reserve Bank of Australia and US Federal Reserve Swap Line

In coordination with other central banks, the Reserve Bank of Australia confirms the expiration of its temporary liquidity swap line with the Federal Reserve on 1 February 2010. This line, which was established to counter pressures in global funding markets, is no longer needed given the improvements in financial market functioning seen over the past year. The line in Australia has not been accessed since April 2009. Central banks will continue to cooperate as needed.