BIS to operate sterling liquidity facility backed by BoE

Move echoes 20th century arrangements when BIS acted as intermediary in swaps network

BIS with flags
The Bank for International Settlements
Dan Hinge

The Bank of England has created a sterling-denominated facility with the Bank for International Settlements, opening up a source of global liquidity to a much wider range of central banks.

The move echoes the role the BIS played in the latter half of the 20th century, when it acted as intermediary to several global swap arrangements in a variety of currencies. More recently, central banks have tended to rely on a network of bilateral swap lines, but this excludes many countries.

From today

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account