The International Reserves and Foreign Currency Liquidity (IRFCL) dataset includes data on the country's reserve assets and other foreign currency assets. It also includes data on predetermined short-term outflows and inflows (“predetermined net drains”) of those assets, contingent short-term outflows and inflows (“contingent net drains”) of those assets, and other information on international reserves and foreign currency liquidity by economy.

The data are organized in four sections as follows.

Section I – Official Reserve Assets and Other Foreign Currency Assets

“Reserve assets” are those external assets that are readily available to and controlled by the monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes. “Other foreign currency assets” refer to liquid foreign currency assets of the monetary authorities that are not included in reserve assets, as well as such assets of the central government (excluding social security funds).

Section II – Predetermined Short-Term Net Drains on Foreign Currency Assets

“Predetermined net drains” refer to outflows and inflows of foreign currency assets that are known or scheduled contractual obligations in foreign currencies with both residents and nonresidents. Contractual obligations of the authorities can arise from on-balance sheet and off-balance sheet activities.

Section III – Contingent Short-Term Net Drains on Foreign Currency Assets

Contingent outflows and inflows (“contingent net drains”) refer to contractual obligations that give rise to potential or possible future additions or depletions of foreign currency assets. Contingent drains are reported as off-balance sheet activities, since only contractual assets and liabilities should be reflected on balance sheets. Foreign currency flows in Section III are contingent upon exogenous events and arise from positions with either residents or non-residents.

Section IV – Memo items

Memorandum items provide more detailed information on selected on- and off-balance sheet positions and flows, including on (a) short-term domestic currency debt indexed to the exchange rate, (b) financial instruments denominated in foreign currency and settled by other means, (c) pledged assets, (d) securities lent and on repo, (e) financial derivative assets, (f) derivatives that have a residual maturity greater than one year, and (g) currency composition of reserves. Memorandum items are deemed relevant for assessing the authorities’ reserves and foreign currency liquidity positions and risk exposure in foreign exchange.

A Schematic Presentation of the Concepts of International Reserves and Foreign Currency Liquidity