Historical Organization

BRICS Contingent Reserve Arrangement

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BRICS 📍 South Africa

BRICS Contingent Reserve Arrangement

Also known as: CRA

Details

Organization Timeline

BRICS leaders pursue a contingent reserve arrangement

📅 27 March 2013

The five governments advanced work on a mutual financial safety net for short-term liquidity pressures; a treaty was signed the following year.

BRICS sign Contingent Reserve Arrangement treaty

📅 15 July 2014

The five states signed a separate mutual reserve arrangement designed to help members facing short-term balance-of-payments pressure.

BRICS reserve arrangement holds its first governing committee meeting

📅 4 September 2015

Central bank representatives met in Ankara to put the Contingent Reserve Arrangement into practice as a mutual liquidity support mechanism.

BRICS seeks a stronger financial safety net

📅 12 September 2026

Leaders discussed amendments to the Contingent Reserve Arrangement treaty to make crisis response more flexible and interest from newer members in joining voluntarily.