The SNB taps the Fed's foreign exchange swap line to the tune of $200M. It's the largest draw...

|By:, SA News Editor

The SNB taps the Fed's foreign exchange swap line to the tune of $200M. It's the largest draw since October 2008 and the first since March of this year. The facility was setup to help alleviate short term European funding market strains. The Swiss move comes on top of yesterday's news one bank in Europe had tapped the ECB's loan window for $500M.