Asean’s expanding and evolving swap lines
The Asian trade bloc – with and without China, Japan and South Korea – wants to strengthen emergency liquidity support
Asia’s swap lines are evolving and growing in number as the Association of Southeast Asian Nations (Asean) works to solidify its members’ access to emergency funding, both in collaboration with China, South Korea and Japan, and among themselves.
Swap lines that provide emergency liquidity backstops have proliferated in Asia in the past decade. China now has 32 bilateral swap arrangements worth around 956 billion yuan ($141.2 billion), of which five that are valued at more than 64 billion yuan
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