Policy Papers

Flexible Credit Line and Short-Term Liquidity Line - Operational Guidance Note

April 30, 2025

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Format: Chicago

International Monetary Fund. Strategy, Policy, & Review Department "Flexible Credit Line and Short-Term Liquidity Line - Operational Guidance Note", Policy Papers 2025, 013 (2025), accessed May 16, 2025, https://doi.org/10.5089/9798229006538.007

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Summary

This note provides operational guidance on the use of the Flexible Credit Line (FCL) and the Short-Term Liquidity Line (SLL). After an overview of each instrument, explaining its specific nature, the operational issues are grouped into five areas: an outline of the process and specific steps that need to be followed if a member expresses interest in an arrangement; guidance on the modalities of concurrent use of the two instruments; guidance on interaction with other instruments; guidance on determining qualification of a member; and a how-to guide for determining appropriate access levels. The note is an aid to the implementation of the policy and its underlying principles. If there is any instance in which a provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails. It will be revised as needed, for example following relevant policy reviews.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Balance of payments, Balance of payments need, Central bank balance sheet, Central Banks, Crime, External audit, Financial institutions, Lines of credit, Public financial management (PFM)

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Balance of payments need, Central bank balance sheet, External audit, FCL, FCL arrangement, Flexible Credit Line, Global, Guidance Notes, I. FCL, IMF, Lines of credit, Precautionary Toolkit, Short-term Liquidity Line, SLL, SLL arrangement, SLL qualification assessment, Transparency policy

Publication Details

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