Flexible Credit Line - Operational Guidance Note

Source details

Purpose: Provides general guidance on the use of the Flexible Credit Line (FCL).
Structure: After an overview of the instrument and its specific nature, the operational issues are grouped into three areas:
- an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement;
- guidance on determining qualification of a member; and
- a how-to guide for determining appropriate access levels.
Role: The note is an aid to the implementation of the policy and its underlying principles.
Hierarchy of norms: If a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails.
Maintenance: It will be revised as needed, for example following relevant policy reviews.

Process and steps when a member expresses interest:
- Outlines the process and specific steps to follow (text describes an outline but does not list step-by-step details on the landing page).
Qualification guidance:
- Provides criteria and guidance for determining qualification of a member (page signals guidance exists; details are contained in the full note).
Access-level determination:
- Includes a how-to guide for determining appropriate access levels for an FCL arrangement.

Intended use: The note is intended as an implementation aid rather than a substitute for Board policy.
Conflict resolution: Board policy prevails over any conflicting provision in the guidance note or its implementation.
Revision policy: The note will be revised as needed (for example following relevant policy reviews).

Publication date: August 6, 2018
Distribution channels and outreach:
- Policy Papers (category on the site)
- IMF eLibrary: "Our eLibrary offers over 25,000 IMF publications in multiple formats."
- IMF Publications Newsletter: "Latest economic research and insights delivered to your inbox each month."

Flexible Credit Line - Operational Guidance Note, August 6, 2018