Series: Analytical Notes
Author(s): Adolfo Barajas , Andrea Deghi , Salih Fendoglu , and Yizhi Xu
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 24 July 2020
Keywords: Offshore financial centers, Offshore banking, Foreign exchange swaps, Currency swaps, US dollar, Real sector, Financial crises, Financial systems, Macroprudential policies and financial stability, Central banks
This note analyzes recent trends in offshore US dollar funding markets and explores the drivers of dollar funding costs during the COVID-19 pandemic crisis. Preliminary evidence suggests that only part of the sharp...