Economics
BOK to Offer $12 Billion to Banks Using FX Swap Line with Fed
Pedestrians cross a road outside the entrance to the Bank of Korea (BOK) museum at the central bank's headquarters in Seoul.
Photographer: Jean Chung/BloombergThis article is for subscribers only.
The Bank of Korea will provide $12 billion to banks in its first round of dollar injections using a currency swap line with the Federal Reserve.
The auction will be held on Tuesday at 10 a.m. Seoul time, and banks may apply for 7-days debt of up to $300 million, and 84-days debt of up to $1.5 billion, the central bank said in a statement. The minimum bidding rate will be decided on Monday.