ECB eyes new currency safety nets to boost euro’s global role - The Mighty 790 KFGO

FRANKFURT, Sept 28 (Reuters) – The European Central Bank plans to expand currency safety nets to make it easier for foreign central banks ​to borrow euros, ECB President Christine Lagarde ‌said on Monday, in a bid to strengthen the single currency’s global standing. The push comes amid concerns over financial fragmentation and growing uncertainty around the future of the US dollar ‌under ​President Donald Trump. Lagarde said the ⁠ECB would work on ⁠swap lines, which act as a source of emergency liquidity at times of crisis by allowing foreign central banks to borrow euros in exchange ​for their own currency.