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Due to the closing of Mexican financial markets on March 24, 1996, there was a fear of a spill over that would disrupt markets when the Mexican exchanges reopened. To solidify the Central Bank of Mexico, The Federal Reserve Bank of NY established a $6 Billion agreement with Mexico. This would be drawn down in the event of a fiscal crisis. No drawings were necessary however, as the USA, Mexico and Canada created a joint financial enterprise to handle the problem.

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Q: What did the Federal Reserve Bank of New York do to help the central bank of Mexico in March 1994?
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