Swap lines
Implications of the 2026 Middle East war
Gavin Bingham, Paul Fisher and Andrew Large detail the monetary policy, financial stability and international co-operation challenges for central banks
Official lending replaces private capital during crises – paper
Public creditors charge below-market interest rates on loans to sovereigns in crises, NBER study finds
Zafar Parker on 25 years of reserve management at the Sarb
Amid evolving risk, the head of financial markets talks about the journey to excess balance transfers to the government as South Africa’s reserves rose from $20bn to $80bn
Geopolitical shifts and the evolution of reserve management: adapting to a new reality
How great power rivalry affects central bank portfolios by the Central Bank of Brazil’s Ricardo da Costa Martinelli
EU needs integration, innovation and Eurobonds – panel
Schnabel, Blanchard, Spain’s finance minister and Citadel MD discuss bloc’s future
Rogoff and Pill sound warnings over inflation
Former IMF chief economist says markets are underestimating Trump’s long-term impact
Trump denies offering Orbán Argentina-style ‘financial shield’
US president says Hungarian PM ‘certainly asked for’ protection arrangement
Argentina and the fear of floating
Economists believe the country’s authorities must fully liberalise the peso before it is too late
Hungary to receive Argentina-style US swap line, PM suggests
‘Financial shield’ to render EU measures ineffective, Orbán says
Reserve Benchmarks 2025 – executive summary
Data reveals how central banks are responding to tariffs – or choosing not to
Book notes: Bankers’ trust, by Aditi Sahasrabuddhe
A novel investigation into how trust among central bankers – or lack thereof – helped and worsened crises of the past
China and eurozone renew €45 billion liquidity line
ECB says three-year swap deal will protect against disruptions in renminbi market
Thailand and China renew bilateral currency swap agreement
Central banks agree to exchange up to 70 billion Chinese yuan over five-year period
Central banks of China and Brazil pledge deeper financial ties
PBoC and BCB commit to bilateral currency swaps and “financial strategic co-operation”
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Ex-OCC chief Michael Hsu on the impact of an America-first agenda
The former acting comptroller of the currency speaks with Christopher Jeffery about the future of the US Treasury market, Fed independence, financial de-regulation, the Genius Act and international co-operation
Brazil and China agree currency swap line
BCB says it is in talks to establish similar arrangements with other central banks
EU firms fear dollar liquidity becoming tariff bargaining chip
Trade war escalation could affect ECB's access to Fed swap lines
BCRA renews $5 billion currency swap with PBoC
Argentina gets reserves boost, with new IMF deal expected to be finalised over coming days
