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Summary

A central bank cross-border liquidity line is an agreement between two central banks to provide a collateralised loan of currency from one to the other. They have been around for a long time, but have risen in prominence since the global financial crisis. This dataset provides a comprehensive (to the best of our knowledge and ability) repository for all lines in place since 2000. This dataset was collated from public sources, so it can be freely used by other researchers.

The dataset will be updated regularly to reflect the latest data.

• Vintage 1: The dataset was last updated in May 2024 to cover lines in place until December 2023.

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Authors and Reference:

The Global Network of Liquidity Lines (2024), CEPR discussion paper 19070. bibtex

• Saleem Bahaj
• Marie Fuchs
• Ricardo Reis
• Acknowledgments: Marina Feliciano, Seyed Mahdi Hosseini, and Xiaotong Wu provided excellent research assistance.

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Full Dataset

Download in three formats:

• Excel (with meta data)
• csv
• dta

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Variables

The data is at the agreement level: by date and duration (2000-23), by source currency (USD,EUR, RMB, others), by type (bilateral or multilateral), by funding structure (pooled or by individual bank), by counterparties (central banks), and by some terms (like collateral).

Column	Description
deal_ID	Unique ID for each row representing a deal
deal_type	String indicating reciprocity type
framework	String indicating if deal is part of larger framework agreement
reciprocal_deal	If deal is reciprocal, numeric value indicating matching reciprocal deal
collateral	String indicating type of collateral underlying each deal
ISO_source	Source country ISO 3166-1 (alpha-3) country code
source_country	Source country name
ISO_recipient	Recipient country ISO 3166-1 (alpha-3) country code
recipient_country	Recipient country name
start_date	Agreement signature date or press release date
end_date	Agreed expiration date as mentioned in press release
existence_previous_deal	Indicator variable for whether a deal of any kind existed between the two countries in the past
deal_action	String variable indicating the role of each deal within a deal chain
previous_deal	(Backward-looking) if deal_action renew or reactivate, previous_deal indicates prior deal of identical characteristics being renewed or reactivated
currency_of_deal	Agreed currency of the deal (ISO4217 standard abbreviation)
source_currency	Source central bank currency (ISO4217 standard abbreviation)
source_currency_deal	Dummy variable if deal and source are same currency
deal_currency_amount	Quoted maximum amount agreed on in currency of the deal; registered in billion as mentioned in press release
USD_amount	If deal amount mentioned in USD in press release, then USD maximum amount, otherwise NA
unlimited	Indicator variable for whether deal amount was unlimited
initiative	Initiative under which deal was agreed (if any)

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Latest Figures (as of 2023)

Geographical coverage of the liquidity lines

Data for replication: Excel, csv, dta

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Geographical coverage of the USD bilateral liquidity lines by degree

Data for replication: Excel, csv, dta

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Geographical coverage of the EUR bilateral liquidity lines by degree

Data for replication: Excel, csv, dta

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Geographical coverage of the RMB bilateral liquidity lines by degree

Data for replication: Excel, csv, dta

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The evolution over time of the liquidity lines

Data for replication: Excel, csv, dta

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The evolution over time of the USD bilateral liquidity lines

Data for replication: Excel, csv, dta

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The evolution over time of the EUR bilateral liquidity lines

Data for replication: Excel, csv, dta

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The evolution over time of the RMB bilateral liquidity lines

Data for replication: Excel, csv, dta

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Usage

Please cite if use, and e-mail the authors with suggested corrections.