Chiang Mai Initiative Multilateralisation
E633878
The Chiang Mai Initiative Multilateralisation is a regional financial safety net among ASEAN+3 countries designed to provide liquidity support and strengthen financial stability in East Asia.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
currency swap arrangement
ⓘ
regional financial arrangement ⓘ regional financial safety net ⓘ |
| aimsTo |
address balance of payments and short-term liquidity difficulties
ⓘ
provide short-term U.S. dollar liquidity support ⓘ strengthen financial stability in East Asia ⓘ |
| coexistsWith | ASEAN+3 Macroeconomic Research Office Precautionary and Liquidity Line framework NERFINISHED ⓘ |
| contributesTo |
regional financial cooperation in ASEAN+3
ⓘ
regional financial stability ⓘ |
| currency | U.S. dollar NERFINISHED ⓘ |
| enteredIntoForceOn | 2010-03-24 ⓘ |
| establishedBy | ASEAN+3 Finance Ministers NERFINISHED ⓘ |
| follows | Chiang Mai Initiative NERFINISHED ⓘ |
| governedBy | CMIM Agreement NERFINISHED ⓘ |
| hasAbbreviation | CMIM NERFINISHED ⓘ |
| hasCrisisFacility | Stability Facility NERFINISHED ⓘ |
| hasDecisionMakingBody |
CMIM Deputies Meeting
NERFINISHED
ⓘ
CMIM Ministerial Meeting NERFINISHED ⓘ |
| hasIMFDeLinkedPortion | 30 percent of maximum swap amount ⓘ |
| hasMainContributor |
Japan
NERFINISHED
ⓘ
People's Republic of China NERFINISHED ⓘ Republic of Korea NERFINISHED ⓘ |
| hasPrecautionaryFacility | Precautionary Line ⓘ |
| hasSecretariatFunction | ASEAN+3 Macroeconomic Research Office NERFINISHED ⓘ |
| hasTotalSize | 240 billion U.S. dollars ⓘ |
| hasVotingStructure | weighted by financial contributions ⓘ |
| headquarteredIn | Singapore NERFINISHED ⓘ |
| includesMemberGroup |
Association of Southeast Asian Nations
NERFINISHED
ⓘ
Hong Kong, China NERFINISHED ⓘ Japan NERFINISHED ⓘ People's Republic of China NERFINISHED ⓘ Republic of Korea NERFINISHED ⓘ |
| legalForm | multilateral currency swap agreement ⓘ |
| linkedTo | International Monetary Fund NERFINISHED ⓘ |
| monitoredBy | ASEAN+3 Macroeconomic Research Office NERFINISHED ⓘ |
| policyArea |
crisis prevention and resolution
ⓘ
regional financial safety nets ⓘ |
| predecessor | Chiang Mai Initiative network of bilateral swaps NERFINISHED ⓘ |
| purpose | regional self-help and support mechanism ⓘ |
| region |
ASEAN+3
NERFINISHED
ⓘ
East Asia ⓘ |
| responseTo | 1997 Asian financial crisis NERFINISHED ⓘ |
| servesAs | liquidity support mechanism ⓘ |
| signedOn | 2009-12-28 ⓘ |
| supportedBy | ASEAN+3 Macroeconomic Research Office NERFINISHED ⓘ |
| supports | members facing short-term liquidity difficulties ⓘ |
| typeOfSupport | swap of local currency for U.S. dollars ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.