ECB Expands Euro Backstop to Global Central Banks to Boost Global Reach
TL;DR Summary
The European Central Bank unveiled plans to make its euro liquidity backstop globally available and permanent from 2026, opening standing access (up to 50 billion euros) to all non-excluded central banks. The move aims to strengthen the euro’s international role, provide a lender-of-last-resort during market stress, and potentially lift demand for euro-denominated assets, echoing the Fed’s FIMA facility.
- ECB makes euro backstop global to bolster currency's role CNBC
- ECB Revamps Euro Liquidity Offer to Boost Currency’s Appeal Bloomberg.com
- The EU has a plan to challenge the dollar. It’ll be hard. politico.eu
- ECB opens up euro lifeline in bid to boost global role Reuters
- ECB President Christine Lagarde wants to boost the euro's global role themercury.com
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