Re: gj

FRANKFURT (Dow Jones)--The European Central Bank said Wednesday that there were again no bidders at its weekly dollar swap tender.

The ECB resumed offers of dollar liquidity in cooperation with the U.S. Federal Reserve after a wave of market volatility in May cut off a number of European banks from the dollar funding markets.

But demand for dollars at the ECB's window has been non-existent in recent weeks, suggesting that euro-zone banks with the most need for central bank support have wound down their need for funding in foreign exchange.

The ECB offered the liquidity at a fixed rate of 1.2%, well above rates on the interbank markets.

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-By Geoffrey T. Smith, Dow Jones Newswires; +49 69 29725-520; geoffrey.smith@dowjones.com

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