The Swiss National Bank, the European Central Bank, the Narodowy Bank Polski and the Magyar Nemzeti Bank are announcing that they will discontinue EUR/CHF foreign exchange swaps, whereby Swiss franc is provided against the euro, within a term of seven days.
Demand for liquidity provided by this type of operation has declined, and conditions in the Swiss franc funding market have improved. Therefore, similarly to the other three central banks, the Magyar Nemzeti Bank will conduct the last one-week EUR/CHF swap operation on January 25 2010.
