Bank of England extends its dollar credit lines

Central bankers are playing it safe. They have decided to extend the crisis credit lines. From a press release from the Bank of England:

The temporary reciprocal currency arrangements (swap lines) between the Federal Reserve and other central banks have been extended to 1 February, 2010. This extension applies to the swap facility agreements between the Federal Reserve and the Bank of England.

The Bank of England, the European Central Bank (ECB), and the Swiss National Bank are today announcing their intention to continue conducting US dollar liquidity-providing repo operations at terms of 7 and 84 days during the third quarter of 2009. In light of the generally reduced use of these operations, the central banks listed above intend to discontinue the current 28-day repo operations at the end of July.

We aren't out of the woods yet.