US swapping more dollars for euros? Federal Reserve Board Press Release. Please! Someone help me understand this...

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Looks like the Fed is trying to put one more finger in the dike, and they don't have too many left. Another sign of the times...can't say I totally understand this, but whatever I find I'll tell you. And please, if you find something out, tell me:

From the following Federal Reserve Board (FRB) Press Release dated 30 July 2008:
"An increase in the Federal Reserve's swap line with the European Central Bank to $55 billion from $50 billion."
30 July 2008 FRB Press Release