Template-Type: ReDIF-Paper 1.0
Author-Name: Iñaki Aldasoro
Author-X-Name-First: Iñaki 
Author-X-Name-Last: Aldasoro
Author-Name: Torsten Ehlers
Author-X-Name-First: Torsten
Author-X-Name-Last: Ehlers
Author-Name: Patrick McGuire
Author-X-Name-First: Patrick
Author-X-Name-Last: McGuire
Author-Name: Goetz von Peter
Author-X-Name-First: Goetz
Author-X-Name-Last: von Peter
Title: Global banks' dollar funding needs and central bank swap lines
Abstract: At $13 trillion, the gross dollar liabilities of banks headquartered outside the United States at end-2019 were nearly as high as before the Great Financial Crisis. Most of their dollar funding was booked outside the United States. We measure non-US banks' short-term dollar funding needs by comparing short-term dollar liabilities (including off-balance sheet FX swaps) with holdings of liquid dollar assets. The scale of the central bank swap lines are of similar magnitude to banks' short-term dollar funding needs. Swap line usage peaked in May at $449 billion and has subsided since. However, dollar funding needs of corporates may yet reveal a broader need for dollars outside the banking system.
Length: 9 pages
Creation-Date: 2020-07-16
File-URL: https://www.bis.org/publ/bisbull27.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull27.htm
File-Format: text/html
Number: 27
Handle: RePEc:bis:bisblt:27