main innovation in central bank cooperation during this crisis was the emergency provision of international liquidity … of currency-specific liquidity shortages based on the BIS international banking statistics, and find a significant … swap lines in relieving currency-specific liquidity shortages, the risks that central banks run in extending swap lines and …

and central banks are looking for ways to obtain “liquidity assurance”, i.e., the assurance of having access to … international liquidity if they need it. This article discusses how such assurance might be provided, whether by multilateral means …