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.

All labels observed (3)

How this entity was disambiguated

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
contributesTo regional financial cooperation in ASEAN+3
regional financial stability
currency U.S. dollar
linked to: US dollar
enteredIntoForceOn 2010-03-24
establishedBy ASEAN+3 Finance Ministers
follows Chiang Mai Initiative
governedBy CMIM Agreement
hasAbbreviation CMIM
hasCrisisFacility Stability Facility
hasDecisionMakingBody CMIM Deputies Meeting
CMIM Ministerial Meeting
hasIMFDeLinkedPortion 30 percent of maximum swap amount
hasMainContributor Japan
People's Republic of China
linked to: China

Republic of Korea
linked to: South Korea
hasPrecautionaryFacility Precautionary Line
hasSecretariatFunction ASEAN+3 Macroeconomic Research Office
hasTotalSize 240 billion U.S. dollars
hasVotingStructure weighted by financial contributions
headquarteredIn Singapore
includesMemberGroup Association of Southeast Asian Nations
Hong Kong, China
Japan
People's Republic of China
linked to: China

Republic of Korea
linked to: South Korea
legalForm multilateral currency swap agreement
linkedTo International Monetary Fund
monitoredBy ASEAN+3 Macroeconomic Research Office
policyArea crisis prevention and resolution
regional financial safety nets
predecessor Chiang Mai Initiative network of bilateral swaps
purpose regional self-help and support mechanism
region ASEAN+3
East Asia
responseTo 1997 Asian financial crisis
servesAs liquidity support mechanism
signedOn 2009-12-28
supportedBy ASEAN+3 Macroeconomic Research Office
supports members facing short-term liquidity difficulties
typeOfSupport swap of local currency for U.S. dollars

How these facts were elicited

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

CRA relatedConcept Chiang Mai Initiative Multilateralisation
Chiang Mai Initiative Multilateralisation follows Chiang Mai Initiative
linked to: Chiang Mai Initiative Multilateralisation
Chiang Mai Initiative Multilateralisation predecessor Chiang Mai Initiative network of bilateral swaps
linked to: Chiang Mai Initiative Multilateralisation