Few central banks expanded existing swap lines over the past year

Nearly one-third of new and existing lines are denominated in US dollars

Only a few central banks expanded existing liquidity swap lines over the past year, the Reserve Benchmarks 2023 find.

One-tenth (10.2%) of 49 respondents say they expanded existing liquidity lines in the past year. The vast majority of institutions (89.8%) did not. The proportion of expansion is slightly lower than the 12.5% reported in the 2022 benchmark.

Access to a new liquidity swap line was only reported by one (1.8%) of 55 central banks. Nearly all (or 98.2%) central banks maintained

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