## Figure 1.1.1. Weighted Average of Cross-Currency Swap Bases in Selected Advanced Economies

## Source details

**Canonical URL:** [Figure 1.1.1. Weighted Average of Cross-Currency Swap Bases in Selected Advanced Economies](https://www.imf.org/-/media/files/publications/gfsr/2017/april/chapter-1/boxfigure1-1-1.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2017/april/chapter-1/boxfigure1-1-1.pdf.md)
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### Description
- Title: Weighted Average of Cross-Currency Swap Bases in Selected Advanced Economies
- Unit: Basis points
- Time axis: 2007, 08, 09, 10, 11, 12, 13, 14, 15, 16, 17
- Vertical axis tick values shown: –100, –80, –60, –40, –20, 0, 20, 40
- Event annotations shown on the timeline:
  - Subprime crisis
  - Sovereign debt crisis
  - Negative interest rates
  - U.S. MMF reform

### Data and sources
- Sources: Bank for International Settlements; Bloomberg L.P.; and IMF staff estimates.
- Note: Weights are based on daily average foreign exchange swap turnover versus the U.S. dollar for the euro, Japanese yen, British pound, and Swiss franc. MMF = money market fund.

### Key points shown
- The series spans 2007 through 2017 and is expressed in basis points.
- The plotted vertical range includes negative values down to –100 basis points and positive values up to 40 basis points.
- Major market episodes indicated on the figure align with:
  - Subprime crisis
  - Sovereign debt crisis
  - Periods of negative interest rates
  - U.S. MMF reform

*Source: boxfigure1-1-1*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/chapter-1/boxfigure1-1-1.pdf_