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

_Policy Papers, April 30, 2025_

## Source details

**Canonical URL:** [Flexible Credit Line and Short-Term Liquidity Line - Operational Guidance Note](https://www.imf.org/en/publications/policy-papers/issues/2025/04/30/flexible-credit-line-and-short-term-liquidity-line-operational-guidance-note-566585)

## Other formats

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## Bibliographic details
- Published: April 30, 2025
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798229006538.007

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### Overview
- 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.

### Operational issues (grouped into five areas)
- 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.

### Subject areas and keywords (as listed)
- 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.

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- **Policy Paper**
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_Source: https://www.imf.org/en/publications/policy-papers/issues/2025/04/30/flexible-credit-line-and-short-term-liquidity-line-operational-guidance-note-566585_