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Thank You mr. chairman chairman rocky Im looking at the report that you handed out this morning and as one of you could take your copy and turn to page 26 okay theres a table on page 26 which consists of your balance sheet and one of the entries on the balance sheet is under assets central bank liquidity swaps which shows an increase from the end of two thousand seven from 24 billion dollars to five hundred and fifty three billion dollars in change at the end of two thousand eight whats that those are swaps that were done with foreign central banks many many foreign banks are short dollars and so they come into our markets looking four dollars and drive up interest rates and create volatility at our markets what we have done is with a number of major central banks like European Central Bank for example we swap our currency dollars for their currency euros they take the dollars let it out to the banks in their in their jurisdiction that helps bring down interest rates in the global m
