Central banks sign up to Fed’s Fima facility

Reported usage is marginal, but backstop is highly valued by reserve managers

A sizeable number of central banks have gained access to the Federal Reserve Fima repo facility, according to Reserve Benchmarks 2021.

Overall, 29% of participating central banks requested and gained access to Fima. The percentage was higher in the Americas, with over 44% of central banks registered. In Europe the share declines to 27%. Among Asian central banks the share is 20%, and in Africa 18%.

The Federal Reserve created the Fima facility in March 2020 to alleviate selling pressure by

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