ECB Expands Euro Backstop to Global Central Banks to Boost Global Reach
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.
