Cover Policy Papers
Technical Note on Synchronized Approval of Flexible Credit Lines for Multiple Countries
Author:
International Monetary Fund
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Series:
Policy Papers
Volume/Issue:
Volume 2010: Issue 093
Language:
English
Publication Date:
26 Oct 2010
DOI:
https://doi.org/10.5089/9781498336604.007
ISBN:
9781498336604
ISSN:
2663-3493
Pages:
2
Keywords:
PP; fcl arrangement; FCL Decision; Fund policy; policy; liquidity implication; requirement
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As foreshadowed in the Executive Board Report to the IMFC on the Fund’s Mandate, this technical note sketches the procedures under which synchronized approval of Flexible Credit Line (FCL) arrangements for multiple member countries could be undertaken under the existing FCL Decision and other Fund policies.1 When multiple members face the same shock, synchronized approval of FCL arrangements could strengthen the effectiveness of the response to the common shock and minimize first-mover problems. This technical note neither modifies existing Fund policies, nor establishes a new financing instrument.
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Cover Policy Papers
Policy Papers
ISSN:
2663-3493
Publisher:
International Monetary Fund
Volume 2010: Issue 093