Fed Extends Dollar Swaps Another Year, With Little Fanfare

Wouldn't want to have to stop backdoor bailouts of the rest of the world at a time like this: ``The Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank today announced an extension of the existing temporary U.S. dollar liquidity swap arrangements through August 1, 2012. The Bank of Japan will consider the extension at its next Monetary Policy Meeting. The swap arrangements, established in May 2010, had been authorized through August 1, 2011. ''