Press release on establishing a bilateral swap line between European Central Bank and Narodowy Bank Polski

The European Central Bank (ECB) and the Narodowy Bank Polski (NBP) have agreed to set up a precautionary currency agreement (swap line) to provide euro liquidity.

Under the swap line, NBP will be able to borrow up to €10 billion from the ECB in exchange for Polish zlotys. The maximum maturity for each drawing will be three months. The swap line will remain in place until 15 January 2023.