Regional Financing Arrangement


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Regional Financing Arrangement





Currency Swap & Repo

  • Currency Swap & Repo

  • 10% can be drawn without linkage to IMF

  • Complement/supplement existing international financing facilities



First phase: May 2000 – May 2004

  • First phase: May 2000 – May 2004

    • BSA negotiations
    • 16 BSAs – USD 36.5 billion
  • Second phase: May 2004 – May 2006

    • CMI Review
    • Increase size & 2-way swaps (BSAs – USD 75 billion, ASA – USD 2 billion)
    • Integrate surveillance into CMI
    • 20% drawn without IMF linkage


Third Phase: May 2006 – Present

  • Third Phase: May 2006 – Present

  • Multilateralization of BSA network

  • Self-managed reserve pooling arrangement







ASEAN+3 macroeconomic surveillance








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