This paper examines the implications of the Fund accepting membership in the Financial Stability Board ('FSB'). The FSB Charter (the ?Charter?) explicitly contemplates the possibility of the Fund and the other international financial institutions becoming members but notes that ?the acceptance...

In light of the recent establishment of the Financial Stability Board (FSB) as an association under Swiss law, this paper proposes Fund membership in the new association. The FSB was formed in 2009 and the Fund's Executive Board approved the Fund's membership in 2010, which has provided the Fund...

This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability...

This paper responds to the Board's request for an assessment of eligible countries that could qualify for Fund debt relief under the MDRI once the requisite consents and requests have been received. Directors requested that, by end-2005, staff prepare, in collaboration with the World Bank, an...

The Global Financial Safety Net (GFSN) is comprised mainly of countries' own reserves and external public sources of insurance and financing. The main external official arrangements are central bank bilateral swap arrangements (BSAs), regional financial arrangements (RFAs), and the Fund. The...

liquidity in the face of increased vulnerabilities calls for enhancing the liquidity support provided through the global financial safety net (GFSN). The global economy is experiencing a period of protracted uncertainty, marked by frequent episodes of volatility. Demand for liquidity has...