Global liquidity flows are largely channeled through banks and nonbank financial institutions. The common drivers of … global liquidity flows include monetary policy in advanced economies and risk conditions. At the same time, the sensitivities … of liquidity flows to changes in these drivers differ across institutions and have been evolving over time …

Building on the facility design and application experience from the period of the global financial crisis, in March … temporary swap agreements, and then introduced the new Foreign and International Monetary Authorities (FIMA) repo facility …