Аннотация: This article is focused on the use of swap lines between central banks of different countries, especially between the Federal Reserve System and European central banks. The creation of swap lines makes it possible to reduce the level of uncertainty, especially in a crisis environment, because they can be seen as an instrument of providing the necessary liquidity for the banking system. That is why in the last decades, swap lines have been reintroduced in various regions of the world. They have been used most extensively during the global financial crisis and the COVID-19 period.
In this article, the implementation of swap lines is analyzed in terms of its effectiveness and its impact on the banking sector of several countries.
Thus, the article aims to highlight the importance and the prospects of using bilateral swap lines (BSLs) during the crises and times of high economic and financial uncertainty.