Asian reserves proved more resilient in Covid crisis – reserve managers
Limited use of Fed’s ‘Fima’ facility highlights improved reserve management, says panellist
Reserves portfolios among Asia’s emerging economies were more resilient during this year’s March tumult than in previous crises, central bank reserve managers say.
This resilience was reflected in low US dollar usage under the Federal Reserve’s ‘Fima’ repo facility. The foreign and international monetary authorities facility gives central banks the option to access US dollar liquidity in exchange for collateral, helping ease strains in the US Treasury market during the crisis in March.
“The
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