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

Policy Papers, April 30, 2025

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Canonical URL: Flexible Credit Line and Short-Term Liquidity Line - Operational Guidance Note

Purpose: Provides operational guidance on the use of the Flexible Credit Line (FCL) and the Short-Term Liquidity Line (SLL).
Scope: After an overview of each instrument, operational issues are grouped into five areas.
Role: The note is an aid to the implementation of the policy and its underlying principles.
Hierarchy: If any provision of the guidance note or its implementation conflicts with Board policy, Board policy prevails.
Revision: It will be revised as needed, for example following relevant policy reviews.

Outline of the process and specific steps to be followed if a member expresses interest in an arrangement.
Guidance on the modalities of concurrent use of the two instruments (FCL and SLL).
Guidance on interaction with other instruments.
Guidance on determining qualification of a member.
A how-to guide for determining appropriate access levels.

Subjects: 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.