One in ten central banks opened new liquidity swap lines

Benchmarking participants expanded lines in dollars, euro and renminbi

One in 10 central banks gained access to new liquidity swap lines over the last year, according to Reserve Benchmarks 2021.

Following the acute US dollar liquidity shortage experienced in March and April 2020, and the major economic crisis unleashed by the pandemic, central banks worldwide sought to boost resources at their disposals. Liquidity swap lines can help central banks support their local financial systems providing hard currency to banks in need of funding. 

Under normal

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