Overview
- The Central Bank said the swap funds are under its custody but will not be counted in international reserves until a portion of the line is drawn.
- Officials described the operation as a stabilization agreement intended to support macroeconomic and price stability.
- Accounting treatment will list the line in a note to the Central Bank’s 2025 financial statements, with reserve figures reflecting only activated disbursements.
- Activation of tranches will be determined by future needs, whereas the separate China swap impacted reserves immediately upon implementation.
- Reporting indicates a possible complementary package from U.S. banks of roughly the same size for Treasury debt backstops, though terms remain unspecified.