Swap lines between central banks as part of today’s global financial architecture

Authors

  • Natalya Vasilyevna Vashchelyuk Center for the Study of Central Banks with the Russian Presidential Academy of National Economy and Public Administration
  • Pavel Vyacheslavovich Trunin The Russian Presidential Academy of National Economy and Public Administration

Keywords:

Central banks, swap lines, financial liquidity, the world’s reserve currency, the effectiveness of swap lines, foreign exchange reserves

Abstract

The authors examine the relationship between the national central banks of states at the present stage of development of international economic relations. The article is primarily devoted to the analysis of the swap lines - special financial instruments aimed at addressing liquidity problems in global financial markets. Swap lines may be considered as a tool of the world’s reserve currency, as well as a mechanism to extend the use of national currencies in international payments. Particular attention is paid to the analysis of mechanisms to ensure the effectiveness of swap lines.

Author Biographies

Natalya Vasilyevna Vashchelyuk, Center for the Study of Central Banks with the Russian Presidential Academy of National Economy and Public Administration

Place of work, post: Center for the Study of Central Banks with the Russian Presidential Academy of National Economy and Public Administration, senior scientist

Pavel Vyacheslavovich Trunin, The Russian Presidential Academy of National Economy and Public Administration

Candidate of Economic Sciences
Place of work, post: The Russian Presidential Academy of National Economy and Public Administration, Center of studying of problems of the central banks, Chief Researcher

Downloads

Published

2024-02-08

How to Cite

Vashchelyuk, N. V., & Trunin, P. V. (2024). Swap lines between central banks as part of today’s global financial architecture. Russian Foreign Economic Journal, (1), 51–69. Retrieved from https://journal.vavt.ru/rfej/article/view/768

Issue

No. 1 (2015)

Section

World economy