The ECB analyzes the dollar dependence of eurozone banks

The ECB is studying the dependence of eurozone banks on the US dollar. ECB Vice President Luis de Guindos expressed confidence that the US Federal Reserve will continue to provide liquidity during periods of market pressure, despite criticism from President Donald Trump. 

Trump's statements raised questions about the Fed's independence and its ability to prevent crises related to the shortage of dollars from foreign banks in difficult moments. In this regard, the ECB's supervisory unit has focused on studying the possible risks that may arise against the background of such uncertainty.

Nevertheless, de Guindos expressed confidence in the effectiveness of the existing swap lines between the Fed and major central banks, including the ECB itself. In his opinion, these mechanisms have already proved their usefulness for all participants and remain an important element of the global financial system.