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Central bank liquidity swap lines, established by the Federal Reserve, aim to support the economy during the coronavirus pandemic. Initially used in the 2008 financial crisis, these facilities were enhanced to include more countries. Swap lines facilitate liquidity arrangements with foreign central banks, crucial for U.S. households and businesses in today's interconnected global economy. Bank funding markets are cross-border, meaning disruptions in one area can significantly affect credit provision elsewhere. The Federal Reserve's role includes supporting U.S. dollar funding markets, both domestically and internationally, to mitigate financial strain on the U.S. economy.